The yacht race has been a key feature of the city's famous Foyle Maritime Festival over the years.
Derry and Strabane District Council confirmed they were in talks with race organisers for Derry to be a host port next year but this did not materialise
In a statement, the council said its partnership with the coveted yacht race dates back to 2010 and has had a "catalytic impact" on Derry's reputation for hosting festivals and for attracting global visitors.
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