The Adelaide 500 has been scrapped for 2021 with the Covid-19 pandemic and falling revenue seeing the event drop off the Supercars calendar.
The race has been the traditional season-opener for the Supercars championship since 2002.
However, uncertainty around travel restrictions and construction lead-in time had the 2021 race bumped off pole position and postponed until October.
That event has now been cancelled.
South Australia Premier Steven Marshall told The Advertiser the decision had not been made lightly.
“The Superloop Adelaide 500 has been an event icon for over 20 years, and this decision was made with careful consideration,” said Marshall.
“COVID-19 has presented significant challenges for the events sector, and the uncertainty and other factors became an insurmountable hurdle in the plight to deliver a successful race.
“South Australia sets the benchmark for delivering world-class events, and we will continue to invest in this space to create local jobs.
“We remain a strong supporter of motorsports and will move swiftly to assess all options for motorsport future events.”
The state’s other event at The Bend Motorsport Park, about 100km outside of Adelaide, is unlikely to be affected and is set to remain on the provisional 2021 calendar.
More than 200,000 people attended the event in the Adelaide CBD last year, bringing in an estimated $45 million injection to the South Australian economy.
But with international and domestic travel throughout Australia in limbo, race organisers have been left searching for answers concerning the financial future of the event.
South Australia Tourism Commission chief executive Rodney Harrex insisted the state and Adelaide remains a strong supporter of Supercar racing.
However, he hinted that the dropping of the race may be longer than just next year.
“South Australia is one of the premiere event locations in the nation and globe, and we will continue to invest in a range of sporting, cultural and arts events to stimulate the visitor economy,” Mr Harrex said.
“Due to the high level of uncertainty around the ability of the event to proceed in 2021, the likely impact on the event for both the consumer and commercial market, and the long-term decline in the core motorsport fan, a decision has been made that it will not be possible to hold the race next year and to not seek a contract for future years.
“We have been in discussions with Supercars for the majority of this year, working through possible scenarios.
“With the current set of circumstances, we are not in a position to deliver a sustainable, successful future for the event for next year and beyond.”