The IndyCar Series has declined to formally confirm the end of plans to run a race on the streets of Boston this season, despite the media running statements to that effect.

The city of Boston was to have been the latest addition to the IndyCar schedule, with a race planned for the Labor Day weekend, but the event appears to have been scuppered well before it could ever get off the ground.

A statement from race organisers - who only recently announced the signing of key agreements for the event - blamed the financial requirements of staging a round of the championship for its demise.

"An event of this magnitude requires considerable city and state support and, though we did overcome significant obstacles and demands that have been presented to us, the most recent demands regarding the flood zone issues and requirements of additional expenditure on the line of credit with no guarantees of overcoming those issues have left us no options but to cancel the race in Boston and look at other options," event CEO and president said John Casey commented.

"At this juncture, the demands that have been asked of us make this event in Boston economically unviable and despite robust corporate partnerships and excellent tickets sales, if we have no guarantee of MEPA approval then time was of the essence to make this difficult decision.

"It is very disappointing for everyone who has worked so hard on the event and all of our corporate partners and fans who have supported the Grand Prix of Boston. We have had a team of over 50 people, as well as the city and state agency personnel who have been working tirelessly to find successful and viable solutions and unfortunately we are at an impasse. We are exploring all options and will have further information available in the coming days."

While the organisers' announcement was welcomed by opponents of the race - with
Larry Bishoff, co-chairman for the Coalition Against IndyCar in Boston, applauding the fact that 'the people of Boston will be spared the damage and destruction of our streets and ... be able to live their lives without the disruption this race portended' - IndyCar itself insisted that it wanted to further explore the reasons behind the apparent cancellation before moving on with the search for a possible replacement.

"IndyCar was made aware of the news involving the Grand Prix of Boston this evening," the series said in a statement of its own, "We are obviously disappointed with these media reports and are in the process of gathering additional details and will respond accordingly at the appropriate time. At this stage it is premature for IndyCar to comment further on the situation locally in Boston or the prospect of an alternate event."