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In a statement, MotoGP promoter Dorna Sports said it considered delaying the season finale but ultimately conceded the grand prix at Circuit Ricardo Tormo could not go ahead as planned.
A new host venue and date for the season finale are to be confirmed.
MotoGP said it would use the last round of the 2024 championship to raise funds for the flood-hit region.
Several circuits are rumoured to be in the running to host the final. Among the candidates are the Lusail Circuit in Qatar and the Algarve Circuit in Portugal. Jerez and Barcelona are also considerations. Jerez has also been hit hard by flooding, casting some doubt over its viability.
“MotoGP stands with the Community of Valencia following the devastating floods that have affected the area. Our hearts are with all those who have been lost and those who have lost so much,” a statement read.
“We have been in constant contact with the local authorities and the circuit to best assess how we can help and how we should proceed. We have a responsibility to every region where we race that goes far beyond the sport and the events.
“After carefully weighing up the potential positive impact of MotoGP racing in Valencia on delayed dates versus ensuring no single resource is diverted from the recovery efforts by the presence of MotoGP, the championship and local authorities have been obliged to cancel the 2024 Valencia GP.
“In lieu of racing in Valencia, MotoGP will instead race for Valencia. The championship will put our collective efforts behind backing the relief funds already in place to ensure our positive impact can connect with the area in the way it best serves the people and communities we have been part of for so long.
“Our efforts will begin during the Malaysian GP and continue at the final round of 2024, with a new venue and dates to be announced as soon as confirmed. Fans around the world, our athletes, and paddock deserve a sporting finale to the 2024 season, and one that can make a key contribution to supporting the communities we race in.
“Any further information regarding the season finale will be confirmed as soon as possible.”
The cancellation comes after riders, including title contender Francesco Bagnaia, threatened to boycott the final if MotoGP tried to race at Valencia.
The FIA Formula E World Championship was also scheduled to host its official pre-season test, including a groundbreaking all-female test. However, that has been cancelled too.
Formula E will instead host its pre-season hitout at Circuit del Jarama in Madrid on November 5-8, pending approval.
“Following consultation with local authorities, the FIA and our colleagues at Circuit Ricardo Tormo, we have decided not to proceed with our pre-season test in Valencia, planned for 4-7 November,” a statement read.
“While it may have been possible to go ahead logistically, it is important not to create any distraction or use valuable resources that are much better served supporting the local community.
“We have a number of Formula E team members who have been working on the ground in Valencia over the past week, and we want to personally thank them for everything they’ve done, and continue to do, to support the area.”
