The German Grand Prix is set to be missing from the 2017 Formula 1 World Championship calendar when it is formally revealed after organisers failed to reach a new agreement with Bernie Ecclestone.

The race, held at the Hockenheimring, returned to the schedule in 2016 following a year's absence but Ecclestone has repeatedly stated it would take a new agreement for Germany to retain its place on the calendar from 2017 onwards.

With Ecclestone expressing doubt over a deal being reached as recently as the Brazilian Grand Prix, Hockenhemring CEO Georg Seiler has now told Auto Bild that it couldn't meet the financial obligations set out by the F1 supremo.

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"There was no offer in which all financial risks were eliminated, which was always our condition to stay as a possible venue," he told the German publication. "This is regrettable, but not surprising, especially since the event was only provisional and there was no Formula 1 contract for the Hockenheimring."

Hockenheim's absence from the 2015 schedule was the first time since 1960 that Germany had not hosted an F1 race.

However, dwindling ticket sales and TV audiences have framed the race's financial troubles in recent years, magnified further when the Nurburgring - which rotated hosting duties with Hockenheim - pulled out of its agreement in 2014.

Germany's anticipated axing means the calendar - which will be confirmed at the World Motorsport Council meeting on December 1st - will be reduced to 20 races next season.

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