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New Jersey, Mexico and South Korea axed from Formula One calendar
December 4, 2013 -- Updated 1843 GMT (0243 HKT)
Red Bull's Sebastian Vettel will be aiming to make it five title victories in a row.
- New Jersey, Mexico and South Korea dropped from 2014 Formula One calendar
- One new race will take place in Sochi, Russia while Austria returns to circuit
- New season starts in Melbourne on March 16
- Abu Dhabi will host final race on November 23
(CNN) -- The 2014 Formula One calendar has been revealed -- and there's no space for New Jersey, Mexico or South Korea.
All three Grands Prix have been axed despite being listed on the provisional calendar in September.
It is the second time that the New Jersey race has been postponed, while Mexico is expected to host its first race since 1992 in two years time.
The new set up will see the return of F1 in Austria for the first time in 12 years, while Russia will welcome the sport's top stars to Sochi in October.
The 2014 season starts in Melbourne, Australia on 16 March and ends in Abu Dhabi on 23 November.
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New Jersey has encountered financial and logistical problems since it was proposed in 2012 but race organizer Leo Hindery is confident it will go ahead.
"Our entire management team and our supporters in New Jersey, New York and throughout the Formula One community obviously want to see the inaugural Grand Prix of America at Port Imperial take place as soon as possible," Hindery said in a statement.
"Bringing a world-class race to the world's largest media market is a huge undertaking that has required balancing construction of our road course, without tapping any public money, with the Sport's own timing demands."
The race is set to run on a 5.15 kilometer temporary street circuit along the Hudson River, with the New York City skyline as the backdrop.
It is an event which F1 supremo Bernie Ecclestone is keen to witness.
"There is great demand for a race in New Jersey and I have no doubt we'll be racing at Port Imperial in 2015," he said in a statement Wednesday.
"New races can take many years to get started, but there is significant momentum and we are close to realizing a New York City F1 race."
The Autodromo Hermanos Rodriguez in Mexico City requires refurbishing before it is ready to host a race in 2015.
South Korea, which has welcomed F1 for the past four years, has struggled financially and has lost out this time around.
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