The US Grand Prix farce sparked angry scenes in Indianapolis

The deal with Indianapolis expires this year but talks over a new contract come in the wake of the farcical race in 2005 which saw only six cars finish.

"It does not matter to Formula One if there is no grand prix in the US," Ecclestone told The Times.

"I am not prepared to subsidise a race in America."

Seven teams pulled out of last year's event after the parade lap following warnings that their Michelin tyres were unsafe.

The mass withdrawal led to angry scenes as just six cars completed the race, with Michael Schumacher taking the chequered flag.

I have a very good relationship with the people in Indianapolis and I am sure talks will go well F1 boss Bernie Ecclestone

Furious fans pledged never to go to F1 again and drivers and team bosses afterwards stated their belief that the sport in America would never recover.

But Ecclestone refuses to accept that the distrastrous race should lead to the Indianapolis Motor Speedway getting a discount on the asking price.

And discussions are bound to be heated when Ecclestone travels to America for this year's US Grand Prix which takes place on 2 July.

"What do we get from America? Aggravation, that's about all," Ecclestone added.

"If you say 'good morning' over there and it's five past 12, you end up with a lawsuit.

"We have never got any sponsors out there. The television has never taken off - we have more viewers in Malta than over there.

"But if they want to continue having a round of the Formula One World Championship over there, I am happy to talk to them, which is what I will do when I get there.

"I have a very good relationship with the people in Indianapolis and I am sure talks will go well."