Ulster Grand Prix: Organisers hope Northern Ireland road racing event will return in centenary year of 2022

The Ulster Grand Prix takes place on the 7.4-mile Dundrod public roads circuit

Ulster Grand Prix organisers have said that they hope the event will mark its centenary by returning to the road racing calendar next year.

The host Dundrod & District Club's financial problems and Covid-19 led to the cancellation of both the 2020 and 2021 events.

A club statement said "significant progress" had been made in addressing its financial problems.

The club has entered into a company voluntary arrangement with creditors.

"This work will continue throughout the coming months in the hope of celebrating the centenary of the world's fastest road race with a return to action at Dundrod in 2022," said the statement.

"The club would like to thank everyone involved for their understanding of the circumstances that led to the event's unprecedented financial difficulties and their co-operation in helping resolve this difficult situation.

"Despite these setbacks, the Dundrod club remains committed to resurrecting the event.

"Conversations have already taken place with public and commercial groups who share a similar aim and more discussions are planned."

The Dundrod club was issued with a winding up order in April of last year after it had accumulated debts in the region of £300,000.

Last year's event looked unlikely to happen because of the crippling debts which left the meeting without an organising committee but ultimately the race was cancelled because of the coronavirus pandemic.