Goodwood has announced that both its Festival of Speed and Revival race meeting have been cancelled for 2020, but it may hold an event behind closed doors later this year.
The news was not entirely unexpected amid the ongoing COVID-19 pandemic and the Festival of Speed had already been postponed from its original 9-12 July date.
Goodwood's other racing event, the Members' Meeting, was cancelled last month.
A Goodwood statement said: "Summer is normally an exciting time at Goodwood, as we welcome hundreds of thousands of guests to our headline events.
"Sadly, that's not to be this year, as we have had to take the decision not to hold the Festival of Speed and Revival in 2020."
Ticket holders will be given the option to roll their tickets over into 2021, or request a refund, but supporters are also being encouraged to join a revived Goodwood Supporters' Association, which is aimed at keeping the spirit of Goodwood motorsport alive.
Lord March explained: "The original GSA was founded 25 years ago, when a group of enthusiasts joined me to help overcome a seemingly insurmountable challenge - bringing racing back to Goodwood Motor Circuit.
"The challenge we face today is very different, but perhaps even more serious, as it threatens the future of the entire estate.
"Bringing people together to enjoy the things they love is fundamental to everything we do at Goodwood, so social distancing is having a catastrophic impact on all areas of our business.
"It is a worrying time, in the face of which we are doing what we can to salvage a future for our events."
There is a possibility of a 'behind closed doors' race meeting at Goodwood this autumn, with online coverage for spectators.
A rumoured date for this race meeting is 17-18 October, but this is not yet confirmed by Goodwood.
"We are hoping that we may be able to keep the flame alive with a 'behind closed doors' motorsport occasion in the autumn, for everyone to enjoy at home, but in terms of business the most this will do is limit damage," Lord March added.