"Several reasons have forced us to cancel the events at the Vilamoura Equestrian Centre," the statement reads. "The venue is not yet ready to welcome the public, riders, and horses."

"We continue to invest in the completion of the center. Arrow Global’s commitment remains a strong pillar in the further development of the sport. The project will be restarted as soon as the final construction works are completed and we can focus entirely on the sporting calendar," says Vincent Goehrs.