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.
Fuel crisis support needed now, says MHK
Ramsey member says Manx public already feeling the pinch
1.5% electricity price increase comes into force
Manx Utilities estimates price rise will mean customers pay an extra £14 per year
Tourist tax would be 'wrong move at the wrong time', says Douglas hotelier
General manager of Welbeck Hotel says idea should be dismissed
What would make voluntary land registration more accessible?
Consultation on topic is open until 4 May
Manannan heads to Larne today
First sailing to Northern Ireland port