Formula One supremo Bernie Ecclestone has denied the decision to bring the Grand Prix to Bahrain this year was about money.

He said Bahraini authorities had already paid the $40 million race fee in comments published in The Telegraph newspaper.

"The money is in the bank already," he said. "So we're not going because we're going to get paid. That has nothing to do with it."

Ecclestone added: "We have a contract with them and we're respecting the contract... And I don't believe the people there would take a risk if they thought there was a risk."

The Gulf Air Bahrain Grand Prix 2012 will be held from April 20 to 22 at the Bahrain International Circuit (BIC).

Last year's event was cancelled in March due to unrest. – TradeArabia News Service