Bernie Ecclestone (right) (Getty Images). Bernie Ecclestone (right) (Getty Images).

F1 commercial supremo Bernie Ecclestone is hopeful the postponed Bahrain Grand Prix will return to the racing calendar this season, despite unrest in the Gulf island kingdom.

"If there's peace there and they're happy, we're happy to compromise and make things happen for them," he told CNN. “I think the teams are happy. If it's safe and everything is good then I think the teams will be happy to support it.

“We've always tried to keep out of politics and religion and things like that. I don't really know and I don't know if people have ever found out exactly what the problems are.”

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The Gulf state was due to open the F1 season on March 13 but the race was postponed because of civil unrest that has killed at least 29 people since protests started in February.

Bahrain is due to lift its state of emergency on Wednesday. The kingdom imposed martial law and called in Saudi-led Gulf troops in March in a bid to quell protests.

Bahrain's crown prince, widely seen as a moderate, said last week he was committed to reform path and said the Gulf state would listen to both domestic and international concerns.

Ecclestone, 80, said mass unemployment and a lack of opportunities had provoked the Arab Spring revolts that swept rulers in Egypt and Tunisia from power.

“I think it started there (Bahrain) for the same reason it did in Tunisia. And it becomes catching -- 'why don't we do the same?’” he told CNN. “The guys go to college, they're there until they're 20 or 23 years old, spend all their life trying to do something. They achieve and then they can't find a job. So they get a bit upset and I don't blame them.”

Bahrain F1 authorities have indicated they are ready to hold the race.

“If it was up to us, we are ready," Zayed Rashed Al Zayani, chairman of the Bahrain International Circuit, said earlier this month. "We are happy to have it. We are ready to host it. But unfortunately it is not our decision alone. There are many factors involved. We are hoping for the best and would like to have the race back.”