Bernie Ecclestone has revealed that F1 will not head to New Jersey next season due to a lack of funding.
The race had been included on next year's calendar but only provisionally as it was marked as subject to confirmation.
However, it now appears that confirmation won't be coming as while foundation work had begun on the pits for the 3.2-mile street circuit, a lack of investors has brought the project to a halt.
"It is not going to happen next year," Ecclestone told Eurosport-Yahoo!
"If they came up with the contract with us and we were satisfied the question is could they carry out the work in six months? Winter in New York is not good.
"There's not a lot going on with New Jersey. They are still running around trying to get their finances sorted out.
"I think if suddenly they found the investors they would be okay. They are looking for investors."
Ecclestone, though, is hoping that in time New Jersey will play host a grand prix.
"I've not been there recently but it's a super circuit," he said. "The backdrop is why I decided that is the place to do it."
New Jersey's failure to make it onto the calendar, though, won't leave fans a race short as reports claim Ecclestone is already in talks with Mexico to fill the void.