Tue, 17 May 2011
Promoters of the Isle of Man Bay Festival have confirmed that this year's event has been cancelled.
Organisers say they can't see a way to make the festival financially viable due to poor ticket sales.
A spokeperson has apologised to those who've supported the festival.
Sponsors Manx Telecom say they understand that full refunds will be given.
People who've purchased tickets can register for a refund at Isle of Man Bay Festival Ltd, PO Box 1234, Peel IM99 9YA.
This year's festival would have cost around £1.5m to stage, with over £100,000 having been spent on marketing and advertising.
The promoters are hopeful of returning next year.
It was announced last week that ticket sales had been poor and that talks with sponsors would be held over the weekend.
A statement from the promoters of the Elton John gig, due to be held at the same venue, is expected shortly.