AFTER 25 years in a row, there will be no Three Peaks Race in 2014.
Organisers have decided to defer the event until 2015.
Three Peaks Race media manager Terry Travers said that the reason was primary economic, some sponsors unable to continue their support, and a reduction in potential entrants.
Travers said to have run the event under these circumstances would have presented a ``second-rate product''.
``It took several months of agonising and looking at all the options before we came to this decision,'' he said.
``With an event like this, you are preparing six months out, so it is not a decision that we could leave until the last minute.''
Travers said the extra time between races would give organisers the time to make any necessary improvements to the event.
``It is a unique event that has grabbed the affection of the public,'' he said. ``We believe that will still be there and people will jump on board and it should be reinvigorated for 2015.''
The Three Peaks Race, which combines mountain running and offshore sailing, regularly draws 5000 to 8000 people to its start at Beauty Point on Good Friday, and a large spectator flotilla of pleasure craft following the yachts as they head for Bass Strait.
The race travels to Flinders Island before making its way to Coles Bay and on to the finish line at Hobart.
Along the way, running teams scale Mount Strzelecki, Mount Freycinet and Mount Wellington, while sailing teams tackle the state's unpredictable seas. The Euphoria Furniture team won this year.