Plans to revive the Ulster Grand Prix road race in August have been abandoned because of issues surrounding insurance and funding.
The Dundrod and District Motor Club had hoped to stage the event for the first time since 2019 from 18-19 August.
The club said in a statement released on Tuesday night that it was “with deep regret” they had made the decision.
They added they had been “left with no option other than to make the unfortunate decision”.
The Revival Racing Motorcycle Club revealed in October that they had shelved their plans to organise the race meeting in 2023 after failing to secure the required funding.
The event’s future was left in serious doubt when it was revealed that the host Dundrod and District Club had been issued with a winding up order in 2020 and was forced into liquidation.
The international road race has not taken place since 2019 because of the Covid-19 pandemic and the financial difficulties it has experienced.
The club had racked up debts of around £300,000 and entered into a company voluntary arrangement with creditors.
The event was handed a lifeline when the Revival Racing Club stepped in to attempt to run the race for its centenary year in 2022 but it could not secure backing.
Tuesday’s statement from the Dundrod Club read: “The club began the initiative with confidence, enjoying the full backing of Lisburn and Castlereagh City Council and the Ulster Grand Prix Supporters’ Club.
“There was encouraging support from teams and riders and we also received strong commitments of financial support from the local business community for which we are extremely grateful.”
The club added that issues around insurance and uncertainty around accessing funding from Tourism NI had been significant factors in their decision.
