As the F1 circus touches down in Malaysia for the seventeenth time, there still no new contract for the venue.
Early this year, Malaysian race officials travelled to London to discuss their expiring contract with F1 supremo Bernie Ecclestone.
Now, on the eve of the 2015 edition, a deal for next year and beyond still has not been struck.
"We are still in discussion with Formula One Management and studying the latest terms of agreement," said Sepang chairman Mokhzani Mahathir.
"We want a win-win situation," he is quoted by Bernama news agency. "There are several issues which I'm still not very satisfied and if we can discuss this further, we will renew the contract for another three years."
Mercedes-Petronas deal already done
The Sepang chief also revealed that reigning champions Mercedes have extended their title sponsorship deal with Petronas, the government-owned Malaysian oil company.
"It is learnt that Petronas has extended its sponsorship of Mercedes AMG team for another three years, and as such, it will be an impetus to hold the F1 in Sepang," said Mokhzani.