By alley - May 6, 2016, 1:44 PM ET

INDYCAR: Boston mayor, series hope for future race

Boston Mayor Martin J. Walsh and Hulman & Company CEO Mark Miles released a joint statement Thursday, indicating the door is not shut on future IndyCar races.

"Boston has an open door for new and innovative ideas that will benefit the city's future," the statement begins. "While it is disappointing that IndyCar will not race in Boston this year, we look forward to continuing our work together to bring IndyCar to Boston in the future. Boston has always been a great partner for IndyCar and we are confident that with a strong local promoter the race can be a great success."

The Boston Grand Prix, which was scheduled for the September 2-4 Labor Day weekend, would have been IndyCar's first visit to the city, and the first IndyCar event in New England since New Hampshire Speedway fell off the calendar after 2011.

Grand Prix of Boston president and CEO John Casey announced last Friday that they had ended negotiations with the city and

told RACER

the decision boiled down to the city's unwillingness to provide "outward support." Patrick Brophy, the city of Boston's chief of operations, responded in a statement released to local media outlets that Grand Prix organizers were "unwilling or unable" to meet the city's requirements for holding the event.

Organizers had faced a May 1 deadline to guarantee state agencies that they would not be liable for any costs associated with the event.

Miles said he is "very confident"

a replacement race for the same date

will be finalized in the coming days.