Australia is in danger of losing its grand prix unless it moves the event to the evening, Formula One boss Bernie Ecclestone told an Australian newspaper on Sunday.

Ecclestone told the Sunday Herald Sun that he wanted the race switched from the afternoon so it would fit in better with European television time zones.

"I would like to make sure we can watch (the race) in Europe and other parts of the world at a respectable time rather than having to get up at three or four in the morning," Ecclestone told the newspaper.

Australia has hosted a round of the Formula One championship every year since 1985. The event was initially staged in Adelaide but moved to Melbourne in 1996 and has been there ever since.

Melbourne is now the established venue for the opening race of each season but the race has reportedly suffered heavy financial losses.

Melbourne's current contract expires in 2010 and several countries are vying for its slot on the calendar.

Singapore has won a five-year contract to host a Formula One race starting next year and is planning to stage the first ever night grand prix.

Malaysia is also reportedly planning to move its race to the evening to cater for the huge European market.

"When the contract comes up, we have to have a look and see exactly what we will be doing with Melbourne," Ecclestone said.

"Unless they (organisers) can come up with something satisfactory, I'm pretty sure we wouldn't be able to continue there."