The much anticipated IndyCar Series opener that was scheduled for March in the Brazilian capital city of Brasília has been canceled. Brazilian public prosecutors have judged the race would end up costing the local government too much and have decided to pull the plug on the heavily promoted event.

According to The Associated Press, the government agency has recommended the cancellation because the race is "not in the best interest of society," and coupled with the fear there was a "clear inversion in the priorities for public spending," the crowd-drawing event seemed unfeasible.

Prosecutors pointed out the race contracts, which required spending nearly $100 million just to renovate the track, were signed by the previous administration and promoters of IndyCar.

Brazil’s federal district is currently facing a terrible financial crisis. The government has not been able to pay salaries to many of its public workers. In their recommendation for the cancellation, the public prosecutors wrote, "While all efforts are underway to organize an event not essential to the society of the federal district, public employees are not getting paid."

Last year Brasília was one of the 12 World Cup host cities. Its famed Estadio Nacional stadium was, at the time, considered the most expensive of those stadiums built or renovated for the soccer tournament.

IndyCar has reacted to the news of cancellation by saying that the organization was caught by surprise, making known their "great disappointment."

There will be a $27 million fine for a breach of contract, but this fine is only valid for the contract between IndyCar and Band TV, the Brazilian network promoting the race.

Band TV has released a statement expressing their dejection and disappointment at the "hasty" cancellation of the event, and they have begun to advise ticket buyers on how to get their money back.