Michael Schumacher wrong to return, says Ecclestone

Michael Schumacher

Ecclestone said Formula One would continue to explore new frontiers, with Russia's Sochi the next new race to be added to the calendar in 2014 now that a grand prix in New Jersey had been postponed for 2013.

"I suppose the next big thing will be Russia. Then we have to get this New York thing picking up again. There's lots of unfinished business - no time to waste one thought on retirement," he said.

The Briton hailed the debut of a new race in Austin, Texas, this year as phenomenal and "perfectly prepared" and sent a warning to European circuits that they needed to sharpen up their act.

"Maybe we'll get the Europeans to wake up instead of thinking that it (a Formula One race) is a God-given thing. When Europeans perform and do their job we are happy to stay," he said.

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