The Ulster Grand Prix is reportedly in serious financial difficulties that could jeopardise the future of the popular annual road race meeting.

Dundrod and District Club explained in a statement that there is a ’real and imminent danger’ of the event disappearing from the racing calendar.

The main race day for the 2019 meeting in early August witnessed a much-reduced crowd following a severe weather warning in advance to the Saturday.

An urgent review is being carried out to assess the viability of running the race meeting in 2020.

The statement said that the organisers will consider the outcome of the review and a decision will be taken in the coming weeks as to the future of the club and the Ulster Grand Prix.

The club say this year’s feature race day attracted perhaps the smallest crowd the event has ever witnessed, resulting in a huge loss of income, compounded by existing liabilities, and a major financial crisis".

The release continued: ’Over the past few months the club has been trying to manage this difficult situation. A critical juncture has now been reached and a decision must be made as to whether or not the race will take place in 2020.’

The Ulster Grand Prix first took place in 1922 and enjoyed world championship grand prix status from 1949 to 1971. The Isle of Man TT had the same status from 1949 (the inaugural year of GPs) until 1976.