The Tour de Yorkshire will not be taking place in 2022 after various complications have made the running of the event impossible.
There were plans in place to bring the race back for 2022 after two years of being cancelled due to the Covid-19 pandemic and uncertainty around safety.
But since then the issues of the pandemic, rising costs, and Welcome to Yorkshire having to pay for two enquiries into an expenses and bullying scandal have taken their toll.
In a press release, Welcome to Yorkshire confirmed with Amaury Sport Organisation (ASO) that the race will not be going ahead next year.
"Following lengthy discussions between race organisers, Welcome to Yorkshire and ASO over many months, it is with regret, that by mutual consent, the 2022 Tour de Yorkshire cycling race will not be going ahead.
"The impact of the Covid-19 pandemic, combined with escalating financial challenges and uncertainties have led to an agreed position that the event would be unviable in 2022."
The Tour de Yorkshire came about after the county held the Grand Départ of the Tour de France back in 2014 with the first edition of the Tour de Yorkshire coming less than a year later.
The race had attracted some of the world's best riders with the likes of Marcel Kittel, Caleb Ewan, Dylan Groenewegen, Chris Froome, Thomas Vouckler, Bradley Wiggins, and former winner Greg Van Avermaet all participating.
The race also led to the UCI World Championships being held in the county with its major hub in the town of Harrogate.
"Welcome to Yorkshire’s partnership with ASO to bring world-class cycling to Yorkshire has been hugely successful and incredibly beneficial to the county," the statement continued.
"Welcome to Yorkshire can confirm that their ambition to continue hosting international events is as strong as ever and this is the beginning of a whole new positive plan to showcase Yorkshire globally through dedicating time to varied and exciting opportunities."
It is not yet clear if the Tour de Yorkshire will ever return or if any major bike race will take place in the county, but Welcome to Yorkshire was keen to emphasise it is holding other events including horse racing and golf.
It had looked like the race may be saved when recently all but three councils committed to giving the race an extra £600,000 with Leeds, Calderdale, and Kirklees councils holding off confirming that they would also invest.
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