Dressage at Hickstead director and founder Dane Rawlins has announced the cancellation of the event, which was due to be held from July 28 to 31.

Hickstead has been working with British Dressage to explore ways to secure additional sources of revenue for the show but, despite their endeavours, the fixture will not run at the West Sussex venue this year.

"I’ve explored every avenue possible to try and find financial support to allow us to run, but time is now against us and we have reluctantly had to make the decision to cancel for 2016," said Rawlins.

"This is devastating news to the team at Hickstead as this is our showcase event."

Despite the cancellation, Rawlins said an affiliated show would run that weekend and the gala ball will go ahead on July 30.

"I want to stress that it’s only a year off and the intention is that the international will return in 2017," he added.

"Thanks to all our supporters for being there and we’re sorry not to put on our CDI this year, but Hickstead always has a way of bouncing back, better than ever."

Jason Brautigam, chief executive of British Dressage, described the cancellation as disappointing, but said talks would continue to ensure the international would return next year.

"British Dressage was made aware of the situation around the commercial support required for the international and Nations Cup at Hickstead at the end of last month and have been working with Dane and the team to explore ways in which we could address the funding shortfall," he said.

"This is obviously disappointing for all concerned, including the riders, owners and supporters of Dressage at Hickstead.

"We will be continuing our discussions to hopefully ensure that the international can return to the venue in 2017 and beyond - and BD remains committed to developing the sport, along with our organisers, to continue hosting high profile dressage events in the UK."

All of the other fixtures in Hickstead’s programme will go ahead as planned as they are unaffected by the decision.