Dec.10 (GMM) Indianapolis will not host a formula one race in 2008, but June's United States grand prix has been named among the best races of the season.

Promoter Tony George and F1 chief executive Bernie Ecclestone failed to agree terms for a new contract next year, after the race was staged at the famous Indianapolis Motor Speedway since 2000.

The US GP nonetheless accepted the annual Race Promoters' Trophy for 2007, given out by Formula One Management, at the FIA Awards gala in Monte Carlo last Friday.

An FIA statement confirmed that the trophy is awarded "to the promoter who has proved most helpful, in the most difficult conditions".