Keighley Gala could be cancelled this year following an arson attack on its equipment store.
Diversion signs, road cones and materials for floats were destroyed in the fire next to Victoria Hall.
Other vital equipment, including metal barriers and entry kiosks, was damaged after the double garage was set alight last Thursday night.
Gala officials were this week checking whether their insurers would cover the entire £10,000-plus cost of the damage.
Chairman Brian Hudson said the garage, at the back of Victoria Hall, was unlikely to be usable in future.
And he feared that even if insurers paid up, there might not be time to replace all the equipment in time for this year's June 4 gala.
The 85 road signs, which divert traffic around Keighley during the gala procession, had to be specially made.
The 150 barriers, which stop people sneaking into the gala field, have been contaminated with toxic burnt plastic.
Mr Hudson said much of the destroyed equipment had been bought by gala committee members out of their own pockets.
He said: "It's a deliberate act of arson.
"Someone's broken in and taken something deliberately to set fire to it. Is it an attack on the gala? Is it someone trying to kill us off? I hope they're very happy with their handiwork.
"Anyone setting light to anything is sick in the head. These are not children, these are teenagers and upwards who take delight in setting fire and watching things."
Mr Hudson said the arson attack might be the last straw for gala officials who were already disenchanted with organising the annual event.
He added that an increasing number of people sneaked into the gala field each year, new committee members were not coming forward and people threw stones at the procession.
Mr Hudson said: "Until we have a meeting we're not sure that the gala will go ahead. We're not sure if it's going to happen now.
"We're fighting against a very strong wind and it's an uphill battle. You just get a bit disillusioned and despondent. We've done our 25 years, do we say 'you've won' and give up?".
Det Insp Shaun Berry, from Keighley police, confirmed police were investigating the arson attack. He said there did not appear to be any witnesses and there was no evidence to suggest the fire was a deliberate action against the gala.
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