From GMM

According to Bernie Ecclestone, Formula 1 will shed some of its current races to make room for new Grands Prix to be held in New York and Russia.

The sport's chief executive said recently he is pushing for a street race in New Jersey in 2012, and he has now said in an interview with Bloomberg that he also wants Russia to have a grand prix.

Ecclestone, 79, said there are three potential sites for the race outside Manhattan, while Moscow or the resort city Sochi are the possible venues for Russia.

"We'll make a decision in the next couple of months" on the locations, said the Briton.

Ecclestone has often talked about expanding the calendar from its current 19 events to 20 or more, but he now says F1 will review its "traditional" European hosts, such as the two races in Spain.

"We're going to lose some races for sure, there are some races we can afford to lose without too much problem," he said. "I've spoken to the countries to see what we can come up with."