It would seem that Hungary's MotoGP round at the Balatonring has been cancelled because the Spanish firm that is contracted to build the circuit failed to meet a credit deadline.

The Oi-Oi-Savoly track was due to host its debut race on September 20 but organisers are now asking Dorna and the FIM to postpone their entry into the championship until next season.

It is believed that the race could be moved to the Hungaroring but this would require track homologation by the FIM. According to the stout chaps at motogpmatters.com, István Gyenesei, the Hungarian Sport Minister, said "I voiced my concerns a month ago about the decreasing probability that the Sávoly track would be finished on time.

"Unfortunately, the events of the past month have confirmed my fears that not very much has happened. I've done all I could to secure the Hungarian MotoGP race, and we are still looking at alternatives. We haven't given up on the race being organized this year, and maybe we could run it at the Hungaroring."
A statement from Dorna reads:
Balatonring Zrt., event promoter for the Hungarian Grand Prix, have spoken to MotoGP Rights Holders Dorna Sports with a request to postpone this year’s race until 2010. The request will be sent to the FIM for approval.

The decision owes to a delay in the construction process that means that the circuit would not be complete in time for the September 20th race, a result of harsh winter weather and the current financial situation that has hit Hungary and affected the funding process.