I read this somewhere
Quote : Seems everything is moving out East nowadays. Whats the future for F1 in the EU?
The motorsport authorities in France have announced that next year's French Grand Prix will be cancelled. French racing federation the FFSA issued a statement saying that it had decided not to promote the 2009 race for financial reasons. "After considering the economic context, the FFSA is giving up its status as a financial promoter of a Formula 1 grand prix," said FFSA president Nicolas Deschaux. "As a result, unless a promoter is found to replace the FFSA, the French Grand Prix cannot be part of the FIA’s international calendar in 2009."
In an interview with French newspaper L'Equipe , Deschaux added that the economic downturn and the losses made by the 2008 race meant that the FFSA could not justify continuing as promoter.
is it true?