When writing the epilogue for Knossos (yes, it's on the way!!!), I was astonished to discover that while Mycenae and Tiryns are UNESCO World Heritage Sites, Knossos is not.
At first, I chalked this up to the fact that Sir Arthur Evans had tampered with the integrity of the original site with his speculative reconstructions, but after doing some research I found that Knossos is on the Tentative List, and has been since 2005. The concrete Evans used is crumbling. Apparently, the site needs an active conservation plan in place and work to be done before it can meet the necessary requirements. The funds might not exist, though I don't see why not, considering that 500,000 paying visitors pass through each year. More likely, no one has stepped forward who can organize and carry out the work.
Akrotiri, the Minoan Pompeii on nearby Santorini, faces a similar situation, except the problem there is a lack of funds and the vulnerability of the site to the elements. A tourist was killed in 2005 when part of the protective roofing collapsed. It took several years to make repairs because of the cost. Conservation issues, lack of money, and the ongoing, Herculean task of cataloging the material from the original excavation, are the reason why no further excavations have been undertaken.