FILE - In this Monday, June 11, 2012 file photograph, the race car belonging to defending Formula One champion Sebastian Vettel is on display with the Manhattan skyline in the background during a news conference in Weehawken, N.J. Vettel drove a 3.2-mile course to demonstrate the planned route for the 2013 Grand Prix of America race in the F1 series. On Friday, Oct. 19, 2012, it was announced that Formula One's inaugural Grand Prix of America slated to be run in New Jersey has been postponed until 2014. Formula One boss Bernie Ecclestone says

The United States of America will not be getting a second Formula One race next year. The troubled Grand Prix of America, which was slated to run on a street circuit on the shores of the Hudson river and in the shadow of the New York City skyline has been shelved, following the failure of the race's organizers to come up with the requisite $100 million in funds demanded by F1's tempestuous maestro, Bernie Ecclestone. The problematic Grand Prix was already pushed back once, from the 2013 season to 2014, and Ecclestone has also torn up at least one contract.

At the helm of the US race is Leo Hindrey, a multi-billionaire and a managing partner at InterMedia Partners, and Chris Pook, an ally of Ecclestone's and the former boss of the CART. The two placed Swiss financier and bank UBS in charge of putting together the $100 million. While UBS has only been on the case since June, according to the CNN report, that's apparently long enough for Ecclestone, who told the news channel, "It's not on the cards for next year. They haven't got any money."

Ecclestone followed up, saying the GPoA "is like Donington all over again," referring to the race at the UK's Donington Park. The UK track was meant to take the British Grand Prix from Silverstone in 2010, but was dropped before a single race could be ran, due to its failure to come up with the $210-million race fee. Despite the lack of funds, the organizers of US race remain confident that they'll still be on the finalized calendar to be released by the FIA at the end of the year.

Ecclestone's decision regarding this second US race is a telling one, though, as CNN points out. Running a race with the NYC skyline has been a dream of the F1 boss for year, and while that dream may be in tatters, there's still a spot on the F1 calendar that will need to be filled. It's unclear what will happen if the US race organizers can come up with the money before the end of the year. Click over to CNN for the detailed rundown of the Grand Prix of American and its rocky history.