French Motorsports Federation (FFSA) withdrew financing for the 2009 French Formula One Grand Prix and cancelled the event.
According to the BBC, France will now not feature on next year’s FIA calendar. The French Grand Prix was due to take place at Magny-Cours in June 2009.
"For economic reasons, the FFSA has decided to cancel the (2009) French Grand Prix," said a FFSA statement. "The FFSA would like to thank all those clients who have supported the event in the last few years."
The FFSA confirmed that all those who had already booked tickets would be reimbursed and apologised for the inconvenience caused by the cancellation.
The FFSA said it was now studying six "serious and worthwhile" projects, most of which involved a new track near the French capital.
