"Without grants from the state there will be no more Formula One in Hockenheim," Karl-Josef Schmidt told the Der Tagesspiegel newspaper.
The track will be absent from the calendar next year because it is alternating the event with the Nurburgring.
According to the newspaper, Hockenheim made a loss of 5.3 million euros this year after hosting the German Grand Prix.
The Canadian and French Grands Prix will not be on next year's schedule due to financial reasons.
Schmidt believes only Arab countries will be able to afford hosting a Formula One race if the future unless they start to get better deals.
"Formula One will disappear not just from Hockenheim but from Germany as a whole. Then it will only be run in Arab countries," he added.
There are currently five German drivers racing in Formula One, plus companies such as BMW and Mercedes.
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