The 2013 Bush road races have been cancelled because of rising insurance costs and the organisers' difficulties in finding the necessary sponsorship.
The event, which was first held in 2006, was scheduled to take place near Dungannon on 28 and 29 June.
"The club is finding it hard to attract new sponsors because of the financial downturn and the recent increase in insurance costs," said the organisers.
"We plan to return bigger and better in 2014," the club statement added.
"We feel it is safer and better to give this year a miss.
"We could push on and run the event but we cannot take any risks in running a speed event like this, safety has to come first and we would rather sit out one year than take risks."
It was recently revealed that the national road races in Northern Ireland would see their insurance go up from £12,315 to £15,770 for 2013.
The cancellation of the Bush event leaves four national road races scheduled to take place, the Cookstown 100, the Tandragee 100, the Armoy road races and the Mid Antrim 150.