The Tour de Georgia, the seven-day race billed as North America's premier professional cycling event, has struggled financially as it could not find a title sponsor the last two years.
Support in the Tour de Georgia declined following Lance Armstrong's retirement. The announcement to cancel the race came despite Armstrong's recent comeback, including plans to return to the Georgia event.
The decision to cancel the 2009 race was announced by board member Tom Saddlemire on the race's Web site.
Saddlemire said 2009 will be used "to plan ahead and properly position" the Tour de Georgia.