Monaco, March 20  Formula One's most glamorous race -- the Monaco Grand Prix -- has been cancelled amid the ongoing coronavirus outbreak. The race, which was scheduled for May 21-24, has been held every year since 1955, having begun in 1929.

It was earlier announced that the race has been postponed, along with the Dutch and the Spanish Grand Prix, but the Automobile Club de Monaco (ACM) clarified on Thursday that "with great sadness" the race will be cancelled.

The Dutch Grand Prix, due to return to the calendar for the first time since 1985, was set to be held at Zandvoort from May 1-3, with the Spanish race following a week later.

The ACM said that uncertainty over the teams' participation and access, given the lockdown in neighbouring France and Italy, has made the situation 'untenable'.

They also called off a popular historic race, which uses the same tight and twisty fenced streets, and rescheduled it for early May.

The officials added that "under no circumstances will it be possible to organise these events later this year."

The FIA also announced that the introduction of the new 2021 rules have been deferred until 2022, with work in progress on a revised calendar.

Earlier, Bahrain, Vietnam and Australian Grand Prix and the 24 hours of Le Mans been postponed due to the coronavirus pandemic which has so far claimed close to 10,000 lives across the world.