Last held in 2008, the Volta a la Comunitat Valenciana was due to return to the European Tour calendar in 2011, but due to a lack of sponsorship those plans have been cancelled.
Francisco 'Paco' Antequera took over the rights to the race after the previous promoting company dissolved. He had intended to run the race from February 13-17, 2011, but even with weeks remaining before the application was due to the UCI, Antequera pulled the plug.
Antequera told Superdeporte that the economic crisis was to blame. "We tried to reduce the race from five days to three or even two," he said, but could not raise enough funds. "I feel bad because in 2011 Valencia is the European capital of sport and also for cycling, and we looked forward to the resurgence of this race, but it will have to be another year."
The organizers will resume with plans to revive the race in 2012.
The Volta was previously a staple on the early-season calendar, having been held from 1929-2008. The last winner was Spaniard Ruben Plaza, but past winners also include Alejandro Valverde, Alessandro Petacchi, Abraham Olano, Alexander Vinokourov and, in 1969, Eddy Merckx.