Hockenheim circuit chief executive Georg Seiler has confirmed that there will be no German Grand Prix this season.
The German Grand Prix has been hosted alternatively by Hockenheim and the Nurburgring every year to allow both the venues to share the financial strain of staging the Formula One.
This season Nürburgring was supposed to host the race but they were unable to do so due to them facing some severe financial problems.
The German Grand Prix could have been shifted to last season's hosts Hockenheim, but it was understood that would not be interested in staging the race in 2015 due to them also suffering from financial troubles (because of poor attendances).
Still, in January Formula One group Chief Executive Bernie Ecclestone has confirmed he was in discussion with Hockenheim to become this season's host.
However, a deal is yet to be confirmed and Seiler has announced that this season's German Grand Prix has been cancelled due to there being no time to start organising the race.
"We have no more hope that the Formula 1 takes place here. We have done everything in the last few years to make the fans happy," Seiler was quoted as saying by German new publication Bild.
"The time has expired, to organize a race here. Otherwise, the quality of the event would have suffered."
Seiler says that they were willing to host the race this season though they were not contractually obliged to do so. But they had to pull out after talks about risk with the third parties were not successful.
"We had declared ourselves willing to step in for Nürburgring, something we were contractually not obliged to do," he said. "There were talks with third parties over taking over the risk but they were not successful."
The cancellation of the German Grand Prix, home of the 2014 Champions Mercedes, means that the F1 calendar will only have 19 races for the first time since 1960.