"Germany is an important market, and we are disappointed the race will not be held, but the only proposed solution was basically for us to write a large cheque on top of the financial commitment we had already made," explained CART President & CEO Chris Pook. "We will shift our European focus to other markets."

Last month at Chicago, Pook indicated that CART had an alternative venue "on deck" if the EuroSpeedway race did not take place. As of now, though, the EuroSpeedway cancellation leaves the Rockingham 500 at Rockingham Motor Speedway in England as CART's only European outing.

Rockingham organisers, incidentally, say that ticket sales are running ahead of last year's schedule, with 13,000 tickets sold two months before the race. Track officials say they also are considering creating additional corporate facilities to meet the demand for hospitality space.