The 85-year-old told Telegraph Sport on Wednesday night: “We had a chat with them today. What they would like to do is not spend as much money. They want to know if they can schedule it different ways or pay a bit less now.

“They don’t have a lot of choice because they’ve got a contract with us. They’re there for another three years.”

• Hamilton will lose if he decides his own strategy

On the likelihood of a contract after 2017, Ecclestone added: “Beyond then, I’ve no idea. I don’t know what’s going to happening tomorrow morning. I can’t tell you what I’m going to do in two years’ time. Definitely, we want them to carry on. Of course.”

Ecclestone also said he has not yet received any interest from rival broadcasters, such as BT Sport, ITV – who had the rights from 1997 and 2008 – and Channel Four.

He said: “Why should they? They know we’ve got a long-term contract. Simple.”

• Red Bull spend in attempt to regain gold

F1’s ringmaster is eager to retain some free-to-air presence as it is a major selling point to potential sponsors in the sport. Ecclestone suggested earlier this year he may be willing to offer the BBC a cut-price deal to keep them on.

The BBC has already lost a host of major sports in recent years, with fears that the latest cuts will impact on snooker and darts, as well as Formula One. It is thought the broadcaster pays around £12 million a year for the rights to F1.

The corporation lost control of the rights to the Olympic Games from 2022 onwards, after Discovery, the owner of Eurosport, signed a billion-pound deal earlier this year. It also ditched The Open a year early, prompting outrage from commentator Peter Alliss, among others.