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Organisers have this morning announced the popular annual triathlon festival, scheduled for February 19, could not be held at Red.
"The team went through different operational scenarios and concluded that the socially responsible action to take was to cancel the event,'' a spokesperson said.
"As a non-for-profit, community-based organisation, we have had to make this incredibly hard decision for all involved.
"But the whole team believe it is the right decision considering the uncertainty we are all faced with and our duty of care. We feel for all our wonderful competitors and know they have put many hours of hard work into preparing for our events."
Competitors who have paid entry fees will receive a 75% refund or a transfer to 2023.