The Velothon Wales cycling event will not be taking place next year, organisers have announced.
The annual event sees the closure of roads across Caerphilly County Borough, Newport, Torfaen, Monmouthshire and Cardiff. This year’s event, which was held in July, attracted more than 8,000 riders.
However, organisers have confirmed there will be no future events after failing to make it commercially viable.
The statement reads: “Following detailed discussions between the Velothon series owners Ironman, the Welsh Government major events unit and local event delivery partners Run 4 Wales, we can now confirm there are no plans for Velothon Wales to continue in 2019 and beyond.
“Despite a successful event in 2018, in which more than 8,000 riders took part across three distances, it is unfortunate that we are unable to find a sustainable model for future events.
“The event showcased Wales at its best and welcomed UCI professional road racing alongside 40,000 amateur riders, who were given a truly unforgettable experience on closed roads between 2015 and 2018.
“We would like to thank the people of Wales, each and every person who took part and the numerous stakeholder and partner agencies who made the event possible.
“As well as inspiring the next generation of Welsh cyclists, the Velothon leaves a legacy that confirms Wales’ position as a cycling destination and host for major global cycling events.”
Velothon events will continue in Berlin, Hamburg and on the Sunshine Coast in Australia.
A Welsh Government spokesman said: “With Welsh Government support over four years, Velthon Wales became one of the most popular mass participation events in the sporting calendar.
“The profile of cycling in Wales has increased during this time, partly due to this and other supported events, and it is hoped that the strong partnerships developed and experiences gained can be taken forward on future projects.
“In the meantime we’d like to thank all partners, participants and the communities involved for their commitment in delivering Velothon Wales over the last four years.”