The 2012 Iberdola Open has been cancelled due to the event being unable to find a sponsor.
Despite the Mallorca-based tournament being scheduled to begin on May 10 by the European Tour, the organisers have revealed that the lack of a main sponsor has forced the event to be cancelled.
Seve Ballesteros's son Javier will also be prevented from playing on the first anniversary of his father's death.
Tournament host Jose Maria Olazabal invited the 21-year-old to this year's event.
Ballesteros said: "It's a bit disappointing as I was looking forward to playing in Mallorca."
The Madeira Islands Open will now fill the vacant position in the European Tour.
