As it was announced in the Thursday’s edition of the Diario de Navarra, facing the lack of sponsorship funds and promised subsidy from the local government, the organizers of the GP Miguel Indurain were forced to cancel the 2014 edition of the race.

The one-day race used as a preparation event ahead of the Vuelta al Pais Vasco and GP Amorebieta was run fot the first time in 1951 and renamed as GP Miguel Indurain to honor the five time Tour the France champion in 1999.

The race, categorizes as an UCI 1.1 event, was won by Slovenian Simon Spilak, but the list of the winners contains the stars of the discipline in the likes of Stefano Garzelli, Joaquim Rodriguez or Samuel Sanchez.

Cancellation of this year’s edition, initially to be held on April 5th, and very uncertain future of the race is just an example of the wider process currently taking place in Spain, concerning cycling events being folded on a massive scale due to a financial problems and lack of sponsorship.

Following the cancellation of the GP Miguel Indurain, there are now just eight one day races in Spain: the Clasica San Sebastian, GP Ordizia, GP Getxo, GP Amorebieta, the Vuelta a Murcia, the Vuelta a la Rioja, the Vuelta a Madrid, and the GP Almeria while stage races are also experiencing financial difficulties connected with country’s economic situation.