Local representatives throughout Clare have expressed disappointment with the news that the organisers of the Sky Ride Etape Hibernia have withdrawn from the event.
IMG had organised the cycling event for each of the past two years, attracting over 3,000 participants and generating 2 million euro for the local economy.
However, they’ve now pulled the plug on their involvement, citing business reasons, and while Shannon Development says it will work with Clare County Council in securing a replacement, local councillors feel its a major blow for economic development.
But Ennis representative Johnny Flynn still believes the remaining organisers can build on its success to date.
Meanwhile, IMG have issued a statement to Clare FM regarding their decision.
Managing Director James Robinson says the company has recorded losses on the event in each of the years that it has run to date, mainly due to not achieving the anticipated level of entries.
As they are projecting a greater deficit in the future, Mr. Robinson says the event is not commercially viable for IMG.
All participants for the planned 2012 event have been offered the option to take a full refund, or transfer their place to the new organisers once their plans are in place.