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The city of Sao Paulo is in discussions with three parties interested in purchasing Brazil's Formula 1 circuit at Interlagos, Autosport has learned.

Pressure on public funds, amid an uncertain economic climate in Brazil, has led to a proposal to raise cash through the privatisation of real estate, including the circuit, owned by the city.

The three involved are believed to be a mix of Brazilian and international groups, with former F1 boss Bernie Ecclestone understood to still be interested in making a bid.

The tender for the sale of the circuit will include a clause that makes it the buyer's responsibility to guarantee the race long-term.

Interlagos has a deal to host F1 until 2020, though its future on the calendar has been in doubt because of the slow progress of the redevelopment programme.

"It's an ongoing process," race promoter Tamas Rohonyi told Autosport of the upgrades at the venue. "The municipal government keeps working on the circuit.

"The current phase of redevelopment started three years ago and will stretch into next year, with the new garages to be built ahead of next year's race."

Organisers say this year's event is close to a sell-out, with attendance set to be at its highest for five years, and Rohonyi is interested in extending F1's stay at Interlagos.

"We would like to keep the race beyond 2020," he said. "We have the interest, we're close to be being full this year.

"But it depends on the terms of the contract."

When asked if he was concerned there would be a drop in attendance when the only Brazilian on the grid Felipe Massa retires at the end of the year, Rohonyi said: "No.

"The Brazilian people come because they like motor racing.

"They love Formula 1 and they want to see the greatest drivers.

"They want to have stories to tell their grandchildren."