LONDON (Reuters) - Donington Park has pulled out of hosting this year's British MotoGP round after the Circuit of Wales, which secured the rights to the race but has yet to build its track, failed to meet payment deadlines.
"The time lost with Circuit of Wales being unable to complete the funding arrangements has resulted in delays in almost all of the event's critically important operational plans, from track works to equipment hire," Donington's owners said in a statement.
"This current position could jeopardise the safe and successful running of the 2015 British MotoGP at Donington to such an extent, that both the commercial risks and the lack of time are now too great to allow Donington to proceed."
The race had been scheduled for Aug. 30 at the Midlands circuit which last hosted MotoGP in 2009 before a move to Silverstone.
Commercial rights holders Dorna announced in August a five-year deal with the proposed new Circuit of Wales (CoW), which is unlikely to be ready until 2016 at the earliest.
Promoters had then approached Donington as a stand-in venue.
Donington said spectators who had already bought tickets would be refunded.
"Any announcement on a replacement MotoGP race or about any future UK dates are now a matter solely for CoW and Dorna," added the statement.