MotoGP, the motorcycle racing world championship, announced on Wednesday the cancellation of the 2024 Argentina Grand Prix. The event was scheduled for April 5, 6, and 7 at the Termas de Río Hondo circuit in Santiago del Estero.

“The FIM, IRTA, and Dorna Sports confirm that the 2024 Argentina GP has been canceled,” said MotoGP in a statement released on Wednesday. They added that the reason behind the decision is that the organizers claimed to be unable to guarantee standard Grand Prix requirements due to the current circumstances in Argentina. 

“This event will not be replaced on the 2024 calendar. [We] hope to return to racing at Termas de Río Hondo in 2025,” MotoGP concluded. 

The Argentine Grand Prix has been taking place in Termas de Río Hondo since 2014. According to the Hotel and Gastronomic Business Chamber (CEHGA, for its Spanish initials), the cancellation will result in the loss of over 2,000 jobs.

Organizers blamed the cancellation on an official dependency’s lack of compliance with key contractual stipulations. The entity in question is the National Institute for the Promotion of Tourism, which also provided funding for general safety, customs permits for the arrival of motorcycles, and other necessary equipment and logistics. 

Those who have purchased a ticket can keep them for the 2025 race, which is still to be confirmed, or ask to be reimbursed.

CEHGA also blamed the government for the decision. “The administration’s clear lack of economic support and political will to [back] this international event hurts the economy of our city and the creation of jobs in the northern region of the country,” said the organization in a statement.

The MotoGP race was the last international race that still took place in Argentina. Formula 1 left the country in 1998, and the World Rally Championship followed in 2019. According to reports by the organization, the 2023 MotoGP race generated close to AR$5,1 billion in Santiago del Estero, with 183,000 spectators in attendance. When the contract was signed in 2014, the organizational rights were worth 4 million euros.

The Argentine MotoGP was one of four top-tier motorcycle events in the country, joined by the Superbike and Enduro races in San Juan, as well as the Motocross fixture at Villa La Angostura.