“If the trend continues, our heritage will fade away,” said a club statement.

“With the continuous escalating costs, clubs are finding it much more difficult to raise the necessary funds to organise these events,” added the statement.

“The local Cookstown & District MCC is no different. Following this year’s event, which had been threatened by bad weather, hence many punters staying at home, resulted in the club losing £20,000.

“Rising insurance costs is the biggest factor and the local club pays approximately £18,000 for the insurance for the two-day event.

“With the loss of the Enniskillen road races, and the future of the Ulster Grand Prix still to be decided, if both these events are non-runners, the remaining clubs – North Armagh, Armoy and Cookstown – will have to bear the brunt. This will mean a possible addition of £8,000

“Unfortunately, with so many legislations in place now, it is practically impossible to force spectators to pay into road races.

“However, most clubs ask the public to purchase a race programme, or make a donation. Is that too much to ask anyone?

“Race fans, the message is simple; Pay, or lose the tradition of road racing.”