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The chief of the Malaysian Formula 1 race, Razlan Razali, says he feels "suckered" by former sport CEO Bernie Ecclestone as Sepang prepares to host its final grand prix in 2017.

Malaysia struck a mutual agreement with F1's new owner, Liberty Media, to end its grand prix contract one year early due to escalating fees and a diminishing return.

The upcoming race in October set to be the last for now at the Sepang International Circuit after a 19-year stint on the F1 calendar.

Ecclestone - whose 40-year reign of F1 came to an end in January with Liberty's takeover - said in a recent interview that he felt he had overcharged tracks to host F1 in recent years, with the statement irking Razali.

"For [Ecclestone] to come out with that statement, we can't help but feel suckered by him in some ways and quite disappointed," Razali told AFP.

"We thought we have a relationship. But I guess the reality is there are no loyalties in this business, it is all about dollars and cents.

"I don't understand why he made those kinds of statements. As a loyal customer of his for the last 19 years, it showed a total lack of respect, I think, and made us look like idiots in some ways."

Razali said there were no regrets over the call to end the F1 contract, believing that changes need to be made to the sport before Malaysia can consider hosting a grand prix again.

"Right now we are firm in our decision to take a long break. We are looking at a seven to 10-year break," Razali confirmed.

"They need to fix the sport. MotoGP is so successful because of the product. You don't have to look far."

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