Shanghai wants better deal for money-losing China GP

(GMM) A Chinese GP official has indicated the Shanghai race's organizers want to extend the contract with formula one, but with more favorable terms.

The existing deal ends after next year's race, and another official admitted recently that an "assessment" about whether to press ahead with staging the loss-making events is taking place.

According to the current contract, there is an option to simply extend the deal to include the period 2011-2015.

"We are looking for a different strategy to see how we can cover the costs and one day maybe break even," official Leon Sun told Reuters.

"Any type of negotiation is trying to pay less and get more. We don't know how it's going to end, but, from my heart, we're going to try and make this continue," the race organizer’s general manager added.

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