Following growing rumours about the Tour of Ireland, race organisers have confirmed that the race will not take place in 2010, but that they hope it will return in 2011.

This year’s race was due to take place from 18-22 August but a financial shortfall has put paid to that.

The organisers said in a statement that they had lined up ‘significant commercial and public sector funding’, but that the current economic conditions meant that the additional funding needed to make it viable had not been found.

The race returned in 2007 after a long absence. The previous incarnation, the Nissan Classic, ran until 1992.

It is understood that some of the sponsors were happy to continue this year, but that more backing was necessary.

Race organiser Alan Rushton said: ‘We fully intend to bring it back for 2011 when the private sector environment is stronger.’

The 2009 race was won by British rider Russell Downing.