A1GP World Cup of Motorsport has been forced to withdraw from participation in the Nikon SuperGP on Australia’s Gold Coast next weekend in what was due to be the series' first race of the new season, writes RTÉ Sport's John Kenny.
Ireland are the reigning A1GP champions and on Friday Greg Hooton, who is charged by the Australian government with running the Surfers Paradise round, said he was only 'hopeful' of their presence.
This decision was announced by A1GP Chairman, Tony Teixeira.
He explained: '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 also know the Australian motorsport fans are very protective of this event and had welcomed us with open arms. To them I also apologise,' said Teixeira.
A1GP say they will refund to Gold Coast Motor Events Co the sanction fee paid, and will donate AUS $50,000 to a charity designated by them.
Also contractors engaged directly by A1GP who have already incurred expenses on our behalf will be fully reimbursed according to Texeira
The A1 grand prix cars are still at a storage facility at Dunsford Airfield in Surrey and despite announcing a nine-round series for 2009 the series remains in doubt.
Teixeira recently announced a new deal with IMG Sports Media to market its worldwide media rights for the next three years and also the Season Five calendar. Teixeira said they now had funding in place and their intention was to settle all outstanding creditors
However the freight company who are charged with storing the 25 A1 Cars plus the medical and safety cars, say that they are owed $2 million by A1 Grand Prix Holdings, the British Virgin Island registered parent company of A1 Grand Prix operations LTD which was subject of a winding up order earlier this year.
