Hamilton business owners say the city needs something to fill the void left by the V8s, following the early termination of the contract.
Phoenix Group director Darrel Hadley, whose bars include CBD Corner Pub, Rodeo Rodeo and House on Hood, said losing the V8s was a major blow for the city.
"Events like the V8s and Rugby World Cup which have magnitude and scale like that don't come along every day and we have just said goodbye to it. I would hope they would engage with the hospitality sector to fill that void."
Mr Hadley said, with the exception of the Rugby World Cup, the weekend of the V8s was the busiest weekend for his business.
But the Lawrenson Group, which is the other large owner of the city's bars including The Helm, The Bank and Keystone, believes a number of smaller events should be supported - not just one big one.