Accommodation houses, businesses and service clubs in the Alpine Shire have been dealt a blow with the 10th annual Myrtleford Alpine Rally abandoned.
The popular motorcyle event regularly attracts in excess of 300 riders, filling up Myrtleford and spilling to neighbouring towns in the region such as Bright.
This year's rally was set for the weekend of September 19, initially in line with the Ovens and Murray Football League grand final.
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"We were assuming Myrtleford was going to win the grand final this year so we planned the event on the assumption Myrtleford was going to come home with the cup that night," rally president Chris Bonacci said.
"We were all a bit worried about the legalities and the public perception if it went ahead.
"One of the final nails in the coffin was insurance. The insurance was reluctant to run such a big event and have so many people in one spot."
Make a Wish Foundation was set to be the major charity partner of the event.