The brakes have been pulled on Kirkcaldy’s involvement in a national cycling competition.
The Pearl Izumi Tour Series will not return to the Lang Toun next year after Fife Council pulled its funding.
The event, which has been held in the town for the last two years in May, drew in large crowds and had previously been hailed for offering a new platform of exposure for the town.
However the local authority has decided not to provide funding for the event in 2014 as it does not give the value for money expected for the area.
Councillor Neil Crooks, Kirkcaldy area committee chairman, said: “As budgets get tighter and tighter the Council has a duty to ensure every penny of money the area committee spends is done so wisely and gives the greatest return for the community and the area.
“The same is true for other organisations and event organisers. It was great to see Kirkcaldy featured as part of the Tour Series.
“The town was given promotion out with Fife by the organisers through the television coverage and it was really encouraging to see the support of people and businesses in the town to the event.
“However, projected crowd numbers didn’t materialise from elsewhere and an evaluation carried out, where we consulted retailers suggested investment did not give the value for money expected for the local area. Other events in the town - such as the Fife Carnival held in the summer for example - gave a better return, drew bigger crowds and cost half as much for the Council to support.”
He added that a report will go to the area committee early in the year to give councillors the chance to discuss the evaluation.