Cash crisis hits Sheene rally; ORGANISERS FAIL TO ATTRACT SPONSOR FOR BIKERS' EVENT.

A MOTORBIKE rally in Warwickshire in honour of the late racing legend Barry Sheene has been called off at the 11th hour due to a financial crisis.

The Sheene Run, which was held for the first time in Rugby in July last year, cost about pounds 60,000 and attracted more than 15,000 motorbike enthusiasts to the town.

But this year's event has been pulled after organisers failed to secure a major sponsor for the show.

Last year's event was kick-started by a procession of hundreds of motorcyclists, who rode up from London to take part in a parade through the town.

Sheene's own red, yellow and white Heron Suzuki jacket was one of the lots which went under the hammer in a memorabilia auction, which raised pounds 15,000 for the Cancer and Leukaemia in Childhood charity, as requested by Sheene's family.

Members of the Auto Cycle Union, based in Wood Street, Rugby, who organised the first event, were planning to turn the event into an annual summer rally.

Bosses at Rugby borough council had set aside pounds 12,000 to fund a project manager this year.

But Auto Cycle Union bosses have announced they have been forced to cancel the show after they were unable to find a major sponsor to underwrite the event for pounds 20,000.

Their request to Rugby Borough Council to provide the cash was turned down.

Rugby borough council leader Craig Humphrey (Con, Bilton) said it was disappointing news but that he was unable to commit taxpayers' money to the project.

He said: "Much as I regret this event will not be able to go ahead this year, it would have not been right to use public money to fund it.

"The local authority are not here to bankroll events.

"It was a success last year but it does not attract the 90,000 taxpayers of Rugby into the town."

He said he hoped the event would find sponsorship next year.

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RACING LEGEND: Barry Sheene