Touted as one of the royal family's beloved events, Royal Ascot 2020 has been canceled as the world struggles to restrict coronavirus from spreading in more places. Hello Magazine's Sr. Evening Writer Jenni McKnight reported that the annual event will be closed citing "health and safety" reasons.

Originally slated to take place from Jun. 16 to Jun. 20, the event is likely to take place behind closed doors. Among a slew of other members of the royal family, the horse racing event is usually graced by the Duchess of Cornwall, the Countess of Wessex, the Duchess of Cambridge, and the Queen.

Royal Ascot is an ideal event for the royal family to exhibit their eye-catching race day fashion, with Kate Middleton usually stealing the spotlight with her elegant outfits. The Duchess of Cambridge was spotted donning a beautiful baby blue Ellie Saab midi dress, paired with a Philip Treacy hat that sported a large blue rose and an appealing pussy-bow neckline.

In a statement released on Tuesday, Chief Executive Guy Henderson attributed the decision to cancel Royal Ascot 2020 to "public health and safety reasons." Henderson said it will not be an event open to the public, which means, those planning to attend it are in for a huge disappointment.

Henderson also indicated that running the Royal Ascot races behind closed doors could prove to be possible, provided they get approvals of the BHA and the Government and public health policy permit them to re-start racing. This is likely to benefit the industries, their partners, suppliers, as well as TV audiences worldwide. The statement also confirmed that they are focusing on bringing this to fruition.

Customers who have already bought tickets for Royal Ascot will be refunded in full as soon as possible, the statement continued. Moreover, those who have paid for entry and hospitality will be contacted soon via email. The statement showed appreciation for everyone's patience and understanding in completing this task despite the current national lockdown.

Just like several other businesses, the pandemic is likely to cause a significant financial impact on the Royal Ascot. Nevertheless, the statement reassures that Ascot will not only survive this crisis but will also welcome racegoers back as soon as it is safe to do so.

Henderson mentioned those affected by the COVID-19, and said thanks to their NHS staff, volunteers and key workers for their selfless dedication. Aside from the Royal Ascot 2020, the royal family's equally-favorite The Royal Windsor Horse Show has been canceled. The Queen has been attending the show since it first started back in 1943.