AUSTIN, Texas — Circuit of the Americas founding partner Bobby Epstein Friday broke the news many race fans feared was coming: the 2020 Formula One United States Grand Prix is canceled.

In a tweet, Epstein provided the following statement:

“The cancellation is prudent, but painful. After a sold out 2019, advance ticket sales deposits were up nearly 250 percent over the prior year, and our staff was preparing our biggest event ever.

“We had secured blockbuster performers for the evening shows, and the racing this year is fantastic. I’m disappointed for the fans, COTA employees, our community, and everyone in the Formula One Paddock, as I believe we all look forward to what has become a wonderful tradition.

“It is my hope that the pandemic will soon pass and we will celebrate 2021 with the greatest Formula One United States Grand Prix ever!”

The Formula One U.S. Grand Prix had been set for October 23-25.