The competition had been scheduled to take place between April 12 and 17 at the ExCel Exhibition Centre in London.

However, show organiser Daniel Watson and the ExCel Executive Board claimed the decision was made for financial reasons.

“Unfortunately, due to financial restraints the ExCel Executive Board made the decision yesterday to at least postpone the show until 2018 in order to allow more time to deal with the financial aspects of the concept," a statement from Watson said.

“Unfortunately, the risk is too high for us to continue at this stage, but I thank everyone for your valued time and effort that you have put into the show.”

British Dressage expressed their gratitude for the efforts of Watson and the ExCel Executive Board in getting the event to this stage.

The event had also been due to feature showjumping competitions, but it will no longer go ahead in 2017.

“It is always challenging for any venue to put on a show of this magnitude, particularly in the current climate and what remains a very competitive market,” said Jason Brautigam, British Dressage chief executive.

“The vision to bring dressage to a wider audience in the East End of London was innovative and ambitious, and we will continue to work with the organising committee to see if there is any way that this could become a viable proposition in the future.

“We are of course saddened by the loss of this new show, and appreciate that riders and supporters will share our disappointment, but we still have a busy calendar of CDI events to look forward to this year, including the return of Windsor and Hickstead, as well as the exciting addition of the Bolesworth International in June.

“The British Dressage Winter Championships also take place at Hartpury during the same week, from April 12 to 16, so we would be delighted to welcome any visitors who still want to watch dressage competition over the Easter Weekend, including two gala evening performances on Friday 14 and Saturday April 15 .”