Formula 1 governing body FIA has announced that there will be no race at the German grand prix this season after the Nurburgring opted out of hosting due to financial constraints.

The German GP is usually held at the Nurburgring or Hockenheim, with a standing agreement between the two venues to host the each season’s German GP race alternatively.

And with Nurburgring citing financial reasons for being unable to host this year, Hockenheim officials stated it was too late for the circuit to host this year’s race as it would have been impossible marketing tickets for the race.

As a result, it would be only the third time in 65 years and the first time since 1960 that the German GP would not be on the F1 racing calendar.

It also leaves the 2015 Formula 1 season with 18 races left to compete in, with Lewis Hamilton of German carmaker Mercedes already making a good start to the defence of his world championship by winning the curtain raising Australian grand prix in Melbourne last weekend.