The Birmingham Brummies speedway team have been closed with immediate effect.
The decision was announced by the British Speedway Promoters' Association after the financially-troubled club failed to meet the 14 July deadline to find new owners.
"I'm gutted about this outcome but sadly there was no alternative," BSPA chairman Alex Harkness said.
"With no promoter willing to take the club forward, I'm afraid the club is now closed for business."
The news brings and end to seven years of racing at Perry Barr since the club returned to the sport in 2007.
The future of the Brummies has been under threat for the last fortnight, ever since a takeover by Tony Mole failed to materialise, with Mole saying the level of debt made any move to save the club "not viable".
Former promoter Allan Phillips had his licence annulled on 4 July, with the BSPA stepping in to pay the Birmingham riders for their most recent meetings at Poole on 25 June and Belle Vue on 30 June.
The Brummies have not raced at their home track at Perry Barr since a 50-40 win over Belle Vue on 11 June.
"I feel for the supporters and season-ticket holders, it's a sad day," he said. "If run properly, I'm quite sure Birmingham can be a profitable club again.
"Birmingham Speedway must not be allowed to die and I've every confidence it can come back fitter and stronger."
Speedway first came to the stadium in 1929 and was the Brummies' home until 1983 when they moved to Bordesley Green. The club closed in 1986.
After reforming in 2006 and coming back into the Premier League the following year, they stepped into the sport's top division - the Elite League - in 2011.
The team's growing success culminated in finishing top of the table last year, before losing the play-off final to Poole Pirates 104-79 over two legs.
Although there will be no more speedway involving the Brummies from now on, the club's season-ticket holders have been given the chance to attend Coventry Bees' remaining home meetings for free.
The Bees have announced they will be welcome at the club's nine fixtures at Brandon, beginning with the visit of Belle Vue on Friday, 18 July.