F1 Supremo Bernie Ecclestone (TM), has dismissed reports that a deal has been done whereby Singapore has secured the rights to host a round of the Formula One World Championship.

Following initial reports at the end of last week, the Internet was buzzing throughout the weekend with numerous websites claiming that Singapore will host a Grand Prix from next year.

To add extra spice to the story it was claimed that the event would be a night time event. This would have the double-whammy effect of giving a Grand Prix a moonlit backdrop in addition to ensuring that it was broadcast at peak viewing time in Europe, where a majority of the sport's fan-base is located.

Talking to Reuters, however, Ecclestone (TM) has dismissed the reports, claiming that no such deal has been done.

"We haven't entered into any agreement with anyone at the moment," he said. "I don't know anything about it."

Referring to the concept of a night race, the Englishman added: "I think it would be good, I was the one who suggested night races to them, and not only them but other countries in other parts of Asia."

Talk of a deal caused frenzy in Singapore itself, with shares in local hotel companies rising by almost 16 percent as the story gathered momentum.

Abu Dhabi becomes part of the F1 calendar in 2009 with South Korea hosting a round from 2010.