Everything needed for sports events at Freckleton Club Day and the Freckleton Half Marathon was destroyed in Saturday night's blaze which local residents suspect could have been started by a firework.
Three fire crews were sent to Bush Lane playing fields to tackle the fire which started at around 8pm.
Today, members of the Freckleton Club Day Sports Committee, were surveying the aftermath of the blaze which was so intense the heat buckled a steel roller used by the cricket club to roll the pitch.
Brian Porter, committee member and director of Freckleton Half Marathon, said the incident was a "severe blow" and organisers were feeling "despair and anger."
He said: "Everything in the building has just been totally destroyed - footballs, skipping ropes, safety signs and barriers for the half-marathon – you name it, it's been lost. It would be a very sad day if we were to lose club day and the oldest half marathon in the UK, but we have to balance the books and the cost of replacing this is going to be thousands of pounds.
"The Club Day sport is a fun event to be enjoyed by the whole community and now goes on over the whole weekend.
"We don't know where to go from here. We cannot get insurance for this equipment and we simply don't have the money to replace it at this stage."
Mr Porter added: "The committee works very hard throughout the year to raise money to provide a great community event. Now all our hard work has literally gone up in smoke."
The hut will now have to pulled down and replaced.
Anyone who can help the committee replace the equipment is asked to contact Mr Porter on 07759 829513.
emma.harris@blackpoolgazette.co.uk