The United States Grand Prix at the Indianapolis Motor Speedway will not be on the 2008 Formula One schedule after eight consecutive annual events since 2000.

After recent meetings, Indianapolis Motor Speedway CEO Tony George and Formula One Management Ltd. CEO Bernie Ecclestone mutually agreed to not schedule Formula One racing in 2008 at Indianapolis.

"After several discussions, Bernie Ecclestone and I were unable to agree how to keep Formula One in Indianapolis for the near term," George said. "However, we have agreed to leave the door open for a potential future date.

"It has been a pleasure having the United States Grand Prix at Indianapolis, and I hope that as we approach our Centennial Era at the Indianapolis Motor Speedway, an opportunity might present itself that would allow its return."

The 2007 event was June 17 and was won by British rookie Lewis Hamilton. At the time, George and Ecclestone agreed to a mid-July deadline for a decision about future events.