The An Post Chain Reaction Seán Kelly team will not compete in 2018 after failing to secure a sponsor.

An Post announced last May that they would not be renewing their sponsorship of the team or the Rás na mBan and Rás events.

Team founders Seán Kelly and Kurt Bogaerts have since been looking elsewhere for funding but they've had to concede defeat and accept they will miss the UCI deadline, highlighting the political issues in Catalonia and Brexit as factors behind their difficulty in getting backers on board.

"Unfortunately, time has worked against us to secure a sponsorship agreement before the October 31 deadline to compete in 2018," the team said in a  statement.

"However, we continue to look towards 2019 and the goal of advancing to the Pro Continental level with enthusiasm.

"Despite this disappointment, the decade-long relationship the team shared with An Post not only contributed to the team's success but also to the development of the sport within Ireland, for which we are most grateful.

"The An Post Rás provided an annual platform to showcase the team and our riders to the people of Ireland and further afield. This in turn encouraged more people to follow our great sport.

"We created an environment which nurtured honest hard work combined with determination.

"This facilitated the progression of Irish riders like Sam Bennett, Ryan Mullen, Conor Dunne and Matt Brammeier, each of whom made the transition to the top levels of our sport, along with riders from other nations such as Gediminas Bagdonas, Aaron Gate, Shane Archbold and our most recent success story Przemek Kasperkiewicz.

"We are resigned to not making the start line for the 2018 season, but our goals remain the same: to advance to the highest ranks of professional road cycling.

"Considering the team's strong links to Spain and the United Kingdom, the implications of Brexit and the political scenario in Catalunya impacted the decisions of interested parties but we remain undeterred."

Four Irish riders competed with the team this year: Conor Hennebry, Damien Shaw, Seán McKenna and Matthew Teggart.