Qatar just axed a major sporting event because of financial 'difficulty'

In a surprise decision, Qatar has officially canceled the Tour of Qatar cycling event after a 15 year run.

Organizers said they had too much "difficulty attracting sponsor financial support." The Ladies Tour of Qatar, which was launched seven years ago, has also been axed.

The news is particularly surprising as Qatar just became the first Middle Eastern country to host a world championship of cycling, the 2016 Road World Championship, in October. The Tour of Qatar was also recently upgraded to WorldTour status for 2017.

The race was scheduled on the expanded 2017 WorldTour circuit for February 6 to 10. 

Since 2002, the race has become a favorite for top international cyclists who enjoy the warm weather and strong winds offered by Qatar's climate.

Qatar has also been seen as a leader in Gulf cycling. 

Following Qatar's example, the United Arab Emirates, Bahrain and Oman have all since launched similar races. But Qatar's race remained the region's most prominent and well-established, attracting top-level racers for the competition on a yearly basis.

But in 2016, several top teams skipped the event for various reasons. 

Some teams blamed the long duration of the race. Qatar also refused to invite Belgium's Etixx-Quick-Step, which was ranked No. 1 in the world, accusing the team of showing a lack of "respect" to Qatar. 

Previously, some of the same top teams had hailed the event as providing ideal preparation for the more classic races that followed later in the year.

At the same time, some in the cycling community criticized Qatar's events for low fan turnout. 

The Tour of Qatar was also seen as a way for the Gulf country to position itself prominently in the international sporting community. 

The race served as a precursor to its bid to host other international sporting events such as the 2022 World Cup for football.