The show normally includes fairground rides, live music, classic cars and steam engines
An annual outdoor show which attracts about 15,000 people a year has been cancelled due to wet weather.
The Ashfield Festival, held at the Lawns Pleasure Ground in Sutton in Ashfield, Nottinghamshire, was due to take place on Saturday and Sunday.
Organisers said heavy rain had caused water logging of the grounds and holding the free event would have caused damage to the park.
Ashfield District Council said public safety had to be taken into account.
Councillor John Wilmott said: "All options have been considered, including the safety of the public and the extensive damage that would be caused to the park.
"Many of the contractors had expressed major concerns about the condition of the site."
The authority has been discussing possible alternative celebrations for people in the Ashfield area.
