Thursday 20 November at 12:00 : Nov.20 (GMM) The prospective organisers of a French grand prix on the grounds of Disneyland Paris have scrapped their plans

It has emerged that the collaboration, with Euro Disney providing the land and promoter Lagardere Sports over $100 million, was relying on additional third party financial backing that did not materialise

An excerpt from a statement distributed by Lagardere, formerly the racing car company Matra, explained that "it proved impossible to reach an agreement with the other parties, which was an essential condition in the development of the project"

The Disneyland plans had been the most likely to materialise for 2010, after the current French grand prix at Magny-Cours withdrew from the 2009 calendar

The news means that France is likely to be missing minimally from next year's formula one schedule, as well as in 2010