The Leicestershire circuit had inked a 17-year contract to begin hosting formula one in 2010, but has failed to come up with the necessary funding for renovations.

A series of deadlines stipulated both by the written agreement and F1 chief executive Ecclestone have come and gone, but reports earlier this week said there was still a remote possibility that Donington could get back on track and be ready for the event in eight months.

But in the paddock of the billion dollar Yas Marina Circuit in Abu Dhabi, Ecclestone said: "There's no Donington (for F1).

"They've missed the deadline which we kept extending for them."

Talks about extending traditional host Silverstone's deal have already commenced, but the two sides are yet to agree on commercial terms.