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Organisers of mass participation sports including running festivals will ask the government for a $48 million stimulus package to keep the industry afloat.

A coalition of mass participation sporting events will ask the federal government for a $48 million stimulus package to help restart the industry out of COVID-19.

Around 8,500 events have been postponed or cancelled this year, including Ironman Australia and the Sydney running festival as well as several smaller regional meets.

City2Surf organisers also announced this year the race would be held virtually, while Melbourne and Gold Coast marathons have been forced to do similar.

Experts claim the cancellations have affected more than 3.1 million people and 11,000 employees, leaving a $1.1 billion hole in the economy and the industry in a dire position.

It's feared a number of the smaller community events like local fun runs and triathlon events will fall through and be unable to return without assistance.

The alliance of sporting organisations hope a stimulus package will help them begin planning for events next year, aiming for when it is again safe to do so.

If granted, it would mean the industry would receive $220 million in funding over the next 12 months when counted alongside the existing JobKeeper program.

Organisers claim the package would then bring them in line with the assistance offered to the tourism, arts and live music industries and would largely help regional economies.

"(That's) the amount we've calculated is required for the industry to survive," managing director of the Ironman Group David Beeche said.

"As an industry we want to emerge from this crisis in a position to support Australia's recovery.

"Our industry provides vital support and opportunities for regional Australia and we believe that with government assistance we can be a key player in the country's revival."