An agreement between the F1 controlling body and the Indianapolis Speedway has failed to materialise by the agreed July 12th cut-off and has therefore nixed any plans for a grand prix in the US next year. Bernie Ecclestone, the sport’s commercial supremo, said "We didn't reach an agreement... Let's see if we miss America." Formula 1 viewership has been wavering in the US, especially after an incident at the 2005 race that resulted in only six cars out of the field racing.

Over the last decade F1 has been moving in to emerging markets such as China, Malaysia, Turkey, and Bahrain at the expense of traditional venues in Europe. Despite this, manufacturers believe a presence in the US is vital as it remains one of the world’s largest car markets, and the biggest market for premium cars, which is important for the likes of BMW, Mercedes, and Ferrari.

Though there is not enough time to set up a different venue for the US GP by next year, there’s a chance the race will move to a Las Vegas street circuit in the future.