Formula One racing will not return to the Indianapolis Motor Speedway next year. The final negotiation deadline for sanctioning fees came and went yesterday without an agreement, the Indianapolis Star reports, and both sides announced that they were nowhere near a final contract. The decision leaves the United States without a single F1 race.
The chairmen of both organizations expressed hope that F1 would return in the next several years. The US is not a major market, but attendance at the Indy event is among the highest at any F1 race in the world. The loss is also a blow to the city, which reaps some $100 million from fans attending the event. (Read more Indy Racing stories.)