The Isle of Man Bank Town Centre Cycle Series has been cancelled.
Organisers say it is down to a lower than anticipated level of entries.
The inconvenience of road closures to local residents and businesses could not be justified with the numbers due to take part.
Castletown, Port Erin, Ramsey, Peel and Douglas were due to host races over the summer months.
All entry fees received will be returned in full within seven days.
Firearms amnesty comes into effect
People can surrender weapons without fear of prosecution
Chickenpox jab to become part of routine childhood vaccinations
GP practices to offer children a combined MMRV vaccine
Hark! Claims school didn't allow Christmas carols to be sung "rumour" and "hearsay", says minister
Daphne Caine quizzed by Onchan MHK Julie Edge in the House of Keys
Education minister defends attempt to reopen schools for a half day on snow day
But Daphne Caine can't confirm if teaching staff will be paid for the day missed
Senior lecturer struck off nursing register after groping student
Henry Mutasa, formerly of Ramsey, 'demonstrated a repeated pattern of behaviour'