Bernie Ecclestone on Saturday said he is only now waiting for organisers of a Russian grand prix in 2014 to sign a contract.

A report in the Kommersant daily said the F1 chief executive has agreed terms for a race in the resort city Sochi.

“The document has still not been signed but when the appropriate person from Russia signs it, I will sign it the next day,” Ecclestone is quoted as saying.

The report said the only potential stumbling block is the annual promotion fee, apparently comparable to the approximately $40 million paid by Singapore and Abu Dhabi.

An official in the deputy prime minister Dmitry Kozak’s office confirmed the receipt of the contract from Ecclestone, according to AFP news agency.

In other circuit news, photographs have emerged showing that kerbs, barriers and the crucial top layer of asphalt have been laid in Korea.

And a new circuit in the north of Spain, Circuito de Navarra, has received a T1 homologation by the FIA, making it eligible for formula one testing.

There are some interesting faces in the Singapore paddock this weekend.

One of them is Lesa Kennedy, a prominent NASCAR board member and vice chairwoman of the American series.

It is rumoured she is securing a supply of ECUs with McLaren Electronic Systems.  McLaren group chairman Ron Dennis is also in Singapore this weekend.

Kennedy also met with F1 chief executive Bernie Ecclestone, sparking rumours NASCAR could be put on the bill for the 2012 United States grand prix in Austin.

Also spotted in the Singapore paddock was Dmitry Kozak, Russia’s deputy prime minister, who met with F1 chief executive Ecclestone.

Other notable dignitaries in Singapore are Dr Naviachandra Ramgoolam, the prime minister or Mauritius, and Jacques Regis, formerly the president of French motor racing authority FFSA.