MotoGP will not return to Indianapolis in 2016

The legendary circuit has hosted a MotoGP race since the 2008 season, and last year won the award for best grand prix of the year.

The cancellation of next year's race has been a mutual decision by the IMS and MotoGP rights holder Dorna.

The IMS event was the only MotoGP race in the United States after Laguna Seca was dropped following the 2013 season.

"This caused both financial and logistical challenges that no longer made the event viable for the foreseeable future," said the IMS in a statement.

"Ultimately, removing the Indianapolis race became key to Dorna's efforts to expand both the number of events it hosts and the geographic diversity of its schedule.

Fans who renewed tickets for 2016 following the 2015 race will receive full reimbursements, the IMS said.

"This outcome reflects the best interests of both the Indianapolis Motor Speedway and Dorna Sports," said J. Douglas Boles, president of the Indianapolis Motor Speedway.

"We are proud of our efforts to increase attendance in recent years and successfully host a truly international sporting and cultural event. We're also thankful to Dorna Sports for its strong support and partnership since 2008.

"However, the timing is right to pursue other opportunities that drive greater revenue for both the Speedway and our Central Indiana economy."

The US will still have one MotoGP race at Austin next season.

Austria in

Dorna has also announced that Austria will join the MotoGP calendar next year, with a race at the Red Bull Ring in August. 

The 2016 season will kick off in Qatar in March and will finish in Valencia in November.