Organisers of sailing's Barcelona World Race have suspended the 2018-19 edition due to "political and institutional difficulties faced in Spain".
The race was due to get under way on 12 January next year but the ongoing crisis in Catalonia has prevented the Barcelona Ocean Sailing Foundation (FNOB) from being able to make guarantees to sponsors.
"A sporting event of this scale requires significant private sponsorship," said FNOB.
"And this last year, the course of events has prevented the FNOB from ensuring a reliable sponsorship process, and therefore guaranteeing the delivery of the best Barcelona World Race to the teams, their sponsors and the public."
The Barcelona World Race, which is held every four years, is a two-crew round-the-world yacht race of some 26,000 nautical miles (48,152 kilometres) starting and finishing in Barcelona, with a stop-over in Sydney.
The organisers said they were in discussions to ensure the 2022-23 edition of the race will go ahead.