INDYCAR announced that it will not seek a replacement event for the cancelled race that was scheduled for August 19 in Qingdao, China.
The IndyCar race in China on Aug. 19 was officially canceled Wednesday, and series CEO Randy Bernard must find another event for the second half of the season.
Lotus team principal Tony Fernandes believes the iconic company's return to Formula One after 16 years can help unlock untapped revenue streams in Asia.
Singapore will join the Formula One circuit in fall 2008 and could hold the first race under lights.
It also damaged F1 in the United States, where the sport has a scant following compared with its wide popularity in Europe, Asia and South America.
Formula One champion Michael Schumacher plans to donate $10 million to aid efforts for tsunami victims in Asia.
The Sauber Formula One team cancelled next week's launch of their '05 car in Malaysia after the Asian tsunami disaster.
CART is considering races in China or South Korea by 2005, and adding a third event in Europe.