The German Grand Prix is set to be cancelled for the second time in three years after the chief of the Hockenheim circuit confirmed the track will not host Formula 1 in 2017.
Hockenheim previously enjoyed a deal to share hosting of the German Grand Prix with the Nürburgring, with the tracks staging the race every other year to ensure neither made a loss for two straight seasons.
The race dropped off the F1 calendar in 2015 when the Nürburgring was unable to agree a deal with F1 CEO Bernie Ecclestone, and Hockenheim was unable to step in.
F1 returned to Germany in 2016 at Hockenheim, but the race will now fall off the calendar once again in 2017 after previously being listed as ‘subject to agreement’ for the July 31 weekend.
Speaking to German publication Auto Bild, Hockenheim CEO Georg Seiler said that the proposed deal to host the race contained too many economic risks that the track was unwilling to accept.
“There was no offer in which all economic risks had been excluded, which was always our condition to be a possible venue,” Seiler said.
“This is regrettable, but not surprising, especially since the date was only under reservation and there was no Formula 1 contract for the Hockenheimring.”
Going by the old sharing agreement, 2017 was due to be the Nürburgring’s turn to host the race, but the track told NBC Sports back in July that it would only do so if it was “economically justifiable”.
Ecclestone confirmed earlier this month that he was working hard to keep the German Grand Prix on the calendar for 2017, but was puzzled by the lack of interest in the race from fans.
With Germany set to drop off the provisional calendar, the 2017 schedule will only be run to 20 races at the most, but the future of the Brazilian Grand Prix still remains unclear.