McLeod, 20, was the yet-to-be-announced third driver set to share the Mercedes-AMG GT3 entry with Darren Currie and Axle Donaldson.
The team said it was “let down badly by a third party who up to a week ago had promised us that the sponsorship was there”.
McLeod has raced the Bathurst 12 Hour twice previously in MARC II entries and had been undertaking simulator testing ahead of the event.
“It was probably the most excited I’ve ever been for a race. I was so, so keen. I’ve been waiting to drive one for such a long time,” McLeod told Speedcafe.
“When you’re out there in the Creventic races with all the GT3s passing you, they look like such a cool thing to drive. I’ll be waiting my time to get the call-up again.
“Kudos to Axle and Darren for trying to get me in there, they’ve helped me out a lot.
“It’s a shame for them as well, they put a lot of effort in, bought the car, made the team, and just one little thing hasn’t gone their way and that’s what does it in motorsport.”
McLeod has travelled to the event regardless and looms as a super-sub should any team need a replacement driver.
“Some of the guys from MARC are here [competing in the Combined Sports Cars and Sedans support category] so I’m helping them out with whatever they need,” he said.
“I’ll be checking out some of the GT3s and talking to some teams as well, doing my normal yapping, introducing myself, making the most of it.
“I’ve always got my helmet and kit bag with me. You never know.”
McLeod has had a busy start to the year, racing a Porsche GT3 Cup Car for Kollywood star Ajith Kumar in the Dubai 24 Hours, before sharing a Toyota Supra GT4 in the Abu Dhabi 6 Hour.
It’s expected that McLeod will return to the Super2 Series this season, switching to Kelly Racing following PremiAir Racing’s decision not to contest the second-tier class.
“It’s looking good at the moment,” he said of Super2.
“I’m looking for another strong year and hopefully I can do some other little bibs and bobs on the side.
“I’ve got Barcelona later in the year in the Cup Car for the 24-hour race, which will be really, really good, and hopefully I can do some other stuff along the way.”