The financial crisis has reared it’s ugly head again in F1, throwing the future of the Japanese Grand Prix in doubt as the owners of the Fuji Speedway track have withdrawn from the 2010 calendar.
The Fuji track, owned by Toyota, shares the Japanese Grand Prix with Suzuka and it is unclear at present as to whether Suzuka will be prepared to host the event every year.
Toyota, the Worlds largest car manufacturer, posted record losses for the year ended March 2009 and is expecting it’s finances to be worse this year. The company accounts showed a loss of £2.8bn.
“It has become extremely difficult for us to host the F1 Grand Prix as we face the deteriorating economic environment and see few signs showing a swift economic recovery,” Fuji Speedway said in a statement.
The news is bound to cast a shadow over the Toyota F1 team, who some expected to follow Honda out of Formula one before the start of this season, however there has been no comment on this from Toyota.