Dubliner Martin had been victorious in a race earlier in the day.

Farquhar and Finnegan were disputing the lead on the second lap of the 600cc race and Farquhar was in third place behind Scots rider Keith Amor and Finnegan when, according to Farquhar: "Finnegan's bike seemed to fall apart.

"I couldn't believe it. I was right behind him and he hit a grass verge with a great thump after which he hurtled in to the air and ended up in a field.

"The race was immediately stopped by the red-flag but when I got back to the start I felt sickened by the whole affair. I just had no heart in racing for the rest of the day and I think it came as a relief to the rest of the riders and spectators when the stewards called the meeting off."

Finnegan, who came from Dublin, was 29-years old and was one of the top names in Irish road racing.

He would have been one of the front-runners at the North West 200 in a fortnight's time but sadly all that has been consigned to ashes.

A rider who was full of fun and had loads of talent, Finnegan signed up for the MV Augusta team last year and was managed by entrepreneur Barry Simmons.

Although the two of them aren't involved in the same team any more, Simmons, who was the personal manager of Finnegan, had tears in his eyes as he told the story after the meeting.

"This is one of the blackest days of my life," said Simmons, who at one time was manager of Joey Dunlop and Robert Dunlop.

"I feel so devastated for his young wife Brenda and his daughter Rebecca who were at the meeting today with his father Jim."

It was one of the blackest days at Tandagree where last year popular Ardglass rider John Dunnan was killed.

Officials were gloomy after the meeting and Assistant Clerk of the Course Jack Agnew said: "It's been a terrible accident because there are spectators involved as well.

"As far as we are aware from the police there are two male and one female spectator who have been taken to hospital but we are not yet certain as to their condition."

The irony of the Finnegan death is that earlier in the day he had won the Open race in a split-second finish from Ryan Farquhar and at that time it appeared that he was going to have a day of celebration. Instead his whole family and his fans were plunged into grief.

A spokesman for the North Armagh club said: "These are racing accidents and we are collaborating along with the police to investigate what caused today's disaster.

"It will be some time before all the facts are known but obviously we will not rest until we have the answers.

"As far as our club is concerned we will have to make a decision as to what our future is in road racing but it's too early to say that we will be ending our long and fruitful history with the sport."