German Grand Prix to drop off F1 calendar for 2017

Updated: 

The German Grand Prix is set to be missing from the 2017 Formula One calendar due to a lack of funding at the Hockenheimring circuit.

The iconic event returned to the schedule this year after financial difficulties severed F1's relationship with the Nurburgring in 2015. 

The French Grand Prix at Magny-Cours fell by the wayside in 2008, with Monza also said to be fighting for its F1 future as heavy fees are imposed on the most historic venues.

And Hockenheim boss Georg Seiler has confirmed that efforts to resurrect a deal with F1 look to have fallen through.

"There was no offer in which all financial risks were eliminated, which was always our condition to stay as a possible venue," he told Auto Bild. 

"This is regrettable, but not surprising, especially since the event was only provisional and there was no Formula One contract for the Hockenheimring."

Liberty Media vowed to protect F1's most well-known races when they confirmed their takeover of F1 this year and it remains to be seen whether the German event will be saved when that transaction is completed.

Formula One Group chief executive Bernie Ecclestone believes the issues have been exacerbated by F1's current domination by Mercedes, with organisers of the Malaysian Grand Prix recently ditching the sport due to dwindling viewing figures.

Ecclestone told Sky Sports: "It's a financial one. We've suffered there now for a few years. There's a new tax structure in Germany which has caused them even more damage than I've got already.

"They've got everything, they've won the constructors' championship, whatever happens they've got world champions, we don't understand what's wrong with Germany.

"What we need is not one team to win nearly all the races, we need some competition. Let's get Ferrari and Red Bull back on track."