All motorcycle road racing events in NI in 2023 including the North West 200 have been cancelled.
It is due to public liability insurance costs and came after an emergency meeting of the of the Motor Cycle Union of Ireland's Ulster Centre.
It's reported short circuit racing and trials are also amongst those events cancelled but motocross is not affected.
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A statement issued on Thursday night from John Dillion, MCUI (Ulster Centre) Chairman, said: "Further to our previous statement, regarding the provision of insurance for the 2023 year, representatives, and delegates from the MCUI (Ulster Centre) met both on the 6th and 9th of February, respectively, to try to find a way forward to secure the required cover for the upcoming season...
"These emergency meetings took place with a view to the club delegates retuning to an MCU (UC) emergency centre meeting on the 9th February.
"At this meeting, the relevant representatives gave their club's views on their ability to meet the proposed insurance costs, and fees proposed, as well as any further viable options that may result in the affordability to run events this year."
It added: "The consensus was that the costs proposed were, at this time, unsustainable for most clubs in order to provide the required Public Liability cover to run our planned events.
‘The MCUI (UC) will, however, continue to pursue all options for the provision of Public Liability insurance, should they arise in the near future."
The statement later added: "We appreciate that this situation is far from ideal, however although we have been unable to secure the running of events for this year, this arrangement and decision will go a little way to at least allowing licence holders the opportunity to engage in competitive events, should they wish, with the appropriate cover and security."
It has been reported that mounting insurance costs for 2023 has tripled to more than £400,000.
Other cancelled events include the Cookstown 100, Tandragee 100, Armoy Race of Legends, Ulster Grand Prix, and Sunflower trophy at Bishopscourt.
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