Bernie Ecclestone has confirmed that plans to float Formula One on the Singapore stock exchange have been put on the back burner for now.
The Formula 1 Chief Executive said in Monaco last weekend that the sport's owners had adopted a "wait and see" attitude in light of the problems and pending law suites with social media website Facebook's high profile listing.
And this week, London based jeweller Graff Diamonds postponed its Hong Kong floatation, citing adverse market conditions.
Ecclestone told Bloomberg on Thursday that Formula 1 is also going to wait for the markets to "settle down".
"I'm absolutely confident we will do it this year," said the 81 year old.
"There's no rush, the markets aren't good at the moment, it doesn't inspire people," the Briton added. "We don't have to do it now."