A major blow for the Coffs Harbour Yacht Club with the announcement that the 2018 Pantaenius Newport Coffs Coast Yacht Race has been cancelled.
The decision made reluctantly after entries failed to meet the hoped target for the Summer race.
However, it's understood that only eight entries were made for this year’s race making it difficult to be financially sustainable.
Triple M understands that Coffs Harbour Yacht Club will continue to explore avenues, including new hosting partnerships and a review of the timing.
“At the same time, the Coffs Harbour business community remains fully supportive of events like this, and the region has a huge amount to offer visiting sailors”, Mr Innes said.
All competitors for the 2018 race have been notified and are receiving full refunds.