Tony Teixeira, A1GP chairman:
I want to personally apologise to the people affected by this regrettable but unavoidable decision. The Queensland Government, Gold Coast Motor Events Co, the management and Chairman of the event have been patient and supportive of us in the past weeks.

We were proud to be part of what has become one of the world's most iconic motorsport events, and are devastated at the decision we have had to make. We also know the Australian motorsport fans are very protective of this event and had welcomed us with open arms. To them I also apologise and stress that we wanted to put on a show for them that they would never forget.

We have recently announced 19 teams who were ready to race in Australia. I know they are still committed to racing in our unique series that pits nation versus nation. A1GP may be down, but I do not accept we are out. We have had four exciting seasons that have proved we are a force in the sport and now we shall consolidate on what we have achieved to date. My efforts will be on finding a way forward with the support of some very loyal people.

Alan Evans, A1GP Australia Pty Ltd chairman:
The Directors and Officers of A1GP Australia Pty LTD have been endeavouring over the last several weeks to obtain clarification on the status of A1GP from A1 Holdings, the international company which is the commercial rights holder of the A1GP series and also the company which has control of the A1GP race cars and the A1GP teams.

During this period of time we have received numerous assurances from Mr Tony Teixeira, the Chairman of A1 Holdings, both in writing and verbally that the necessary funding would be in place to ensure that the A1GP could meet its contractual obligation to conduct A1GP raced during the course of the Nikon SuperGP.

The information we had been provided with was such that we all genuinely believed that A1 Holdings was in a position to provide the necessary fund to meet the contractual obligations entered into by A1GP.

The matter has been further complicated by the proper requirement of the FIA for A1GP to undertake two modifications to the race cars to ensure the safety of the drivers. In time now available to A1GP, they are not able to complete both modifications and this will preclude them from racing.

I have today written to all the relevant parties to advise that, due to the inability of A1 Holdings to ensure the provision of 18 [Ed note - as opposed to the 19 revealed by the series] A1GP cars, drivers and teams, that we understand the Gold Coast Motor Events decision that we are unable to fulfil terms of the contract.

I will also advise the relevant National motor sport authority of all the circumstances leading to this action.

On behalf of A1GP, I sincerely apologise to the Queensland Government, the Gold Coast Motor Events Company and its General Manager Greg Hooton, but most particularly, the motor sport public for the failure of A1GP to fulfil its obligations, But we, and all other parties involved in the staging of the A1GP on the Gold Coast, genuinely believed on the information continuously provided to us that A1GP would be in a position to compete at the Nikon SuperGP