The Formula 1 circus will not return to Indianapolis in 2008 after Indianapolis Motor Speedway (IMS) CEO Tony George and Formula 1 boss Ecclestone failed to reach a new deal yesterday.

The Formula 1 circus will not return to Indianapolis in 2008 after Indianapolis Motor Speedway (IMS) CEO Tony George and Formula 1 boss Ecclestone failed to reach a new deal yesterday. Speaking at the Indianapolis race in June, George expressed his confidence in that a new deal would be reached before the July 12 deadline. Indianapolis has been part of the Formula 1 calendar since the year 2000 and drawn annually over 125,000 visitors to the only U.S.-based F1-race. "After several discussions, Bernie Ecclestone and I were unable to agree how to keep Formula One in Indianapolis for the near term," George said but insisted that the door has been left open for a potential future date. Ecclestone said that "we didn't reach an agreement... Let's see if we miss America," stating that no other American circuit would replace Indianapolis on the 2008 F1 calendar. Ecclestone has repeatedly stated that Formula 1 does not need a race in the US, but has expressed his interest in the possibility of moving the race to New York or organizing a street circuit race in Las Vegas. Press release after the jump.

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