Formula One promoter Bernie Ecclestone has confirmed Donington's hopes of hosting the British Grand Prix next year are over.
Ahead of this weekend's inaugural Abu Dhabi Grand Prix Ecclestone confirmed that Donington's bosses had failed to raise the funds to complete its redevelopment plans.
"There's no Donington. They've missed the deadline which we kept extending for them," Ecclestone said.
"It's unfortunate for them, to be honest with you. It was the credit crunch that caused them to be in trouble because their intentions were good, that's for sure.
"It's bad for Tom (Wheatcroft) because he's been an old friend for a long time."
Ecclestone insisted he is still in talks with Silverstone to reach a deal for the 2010 race and suggested the ball was on the British track's court.
"We're talking. A deal can be done if they want to," he said, adding there were no differences of opinion over contract details.