A Royal Family event held at Princess Anne’s home has been scrapped after 40 years.
The Princess Royal’s son and director of the event, Peter Phillips, announced with a “heavy heart” that the festival had to be cancelled due to the “current economic climate.”
The Festival of British Eventing has been running since 1983 at Princess Anne’s rural retreat in Gatcombe Park.
The event was first run as the Gatcombe Horse Trials in the 1980s.
A horse event usually held at Anne's home has been cancelled
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Peter said: “It is with a heavy heart that The Festival, which has played a significant part in the British Eventing calendar since 1983, cannot run this year.
“The event has also been a huge part of my family’s lives and those of many others for 40 years.”
Princess Anne’s ex-husband, Captain Mark Phillips said it started as a “dream” of his and Anne’s which turned into a reality.
He added: “The horse trials at Gatcombe and more recently the Festival of British Eventing have been a major part of my life for over 40 years when The Princess Royal and I first had the dream.
Princess Anne's son Peter Phillips made a statement on the Festival of British Eventing Website
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“The dream became reality, and with it, many special memories of the many riders, horses, volunteers, sponsors and spectators all of whom massively contributed to the history of the horse trials at Gatcombe Park.”
According to the event website, the trials were abandoned last year due to adverse weather conditions.
But it has now been cancelled indefinitely as “increasing costs associated with operating on a green field site” has made the “event unfeasible to run.”
The Magic Millions Festival of British Eventing was supposed to take place between August 2 and August 4 this year before it was cut.
Princess Anne is well-known for her love for horses
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Princess Anne is well-known for her love for horse-riding and had a groundbreaking equestrian career.
The princess began riding at 11-years-old and became a European champion and an Olympian.
Zara Tindall followed in her mother’s footsteps and won a silver medal in the 2012 London Olympic Games. Princess Anne presented her daughter with the medal.
Mark Phillips continued: “It’s truly a great sadness that the original model and indeed the sport has changed so much. Since Covid, costs, particularly insurance, have risen so much that the numbers no longer add up.
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Zara Tindall won a silver medal at the London 2012 Olympics. Getty"It is an end of an era, the next 40 years of the sport will be different, let’s hope it can be equally special.”
Rosie Williams, Chief Executive of British Eventing said: “It is incredibly sad news for everyone involved in the sport.
“My focus this year is very much going to be on how we can implement a strategy that works for the sport going forward.
“We need to do everything we can to find a way to support our organisers, landowners and stakeholders to make events at wonderful venues like Gatcombe become viable.”