Homestead-Miami Speedway President Matthew Becherer told the Sun-Sentinel
newspaper he wanted to keep the track's IZOD IndyCar Series race for 2011, but that IndyCar's demand for a 30 percent increase in the event's sanctioning fee could not be justified.
"Financially, it's an event that doesn't really make a lot of sense for us anyway and when they asked for an increased fee, it made even less sense," Becherer said. "From a business perspective, it's really not any sort of a hit we're going to have to worry about. The impact of losing the IndyCar race is we'll be more profitable."