Formula One boss Bernie Ecclestone has revealed that the inaugural Grand Prix of America in New Jersey will not take place as planned next year, saying the organizers have not raised enough money to fund it.
Raced at 19 circuits around the world, F1 generates more than $4bn in revenues annually.
The final 2014 calendar will be approved by motorsport's governing body, the FIA, in December but new races need to have financing in place by now to ensure their plans are on track.
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