Detroit, MI (My Sportsbook) - The Detroit Belle Isle Grand Prix has been dropped from the 2009 IndyCar Series schedule due to difficult economic times in the Motor City.

Event chairman Bud Denker confirmed the cancellation to the Detroit Free Press after meeting with city and state officials, sponsors and IndyCar representatives. The event was scheduled for Labor Day Weekend.

"We've been evaluating for the last couple of months whether to cancel," Denker told the paper. "The Grand Prix is supported by regional and national sponsors, the Big Three, Audi, Porsche...We consulted with the city, state and sponsors. Considering the tough times we're all experiencing, we just couldn't ask the parties to give and give more.

The Detroit GP returned to the Raceway at Belle Isle after a six-year absence in 2007. Justin Wilson won this year's event, while Tony Kanaan scored the victory in the '07 race.

Terry Angstadt, president of the Indy Racing League's commercial division, said the sanctioning body will review venues to fill the void on the 2009 schedule.

"This is unfortunate news but something that Roger Penske and his group have kept us abreast of for some time," Angstadt said. "The people of Detroit welcomed the IndyCar Series with impressive crowds the past two years, and we support the Detroit Grand Prix's efforts for a possible return in 2010.

"The current economic climate is a challenge for all of us, but as we look ahead to 2009 and beyond, we remain bullish on the opportunities ahead for the unified IndyCar Series...Any decision on what we might do with a valuable asset like a Labor Day race weekend either short or long-term will not be decided upon quickly."

Earlier this week, NASCAR announced Iowa Speedway would replace Mansfield Motorsports Park on the 2009 Camping World Truck Series schedule after Mansfield requested its removal due to economic woes.

The half-mile track, located in Mansfield, OH, has hosted a Truck Series race each year since 2004, and had an event scheduled for May 23. But according to a NASCAR press release, Mansfield requested that "the event be moved from its track because of its inability to meet the requirements necessary to remain a NASCAR sanctioned track."