The Canadian Finals Rodeo’s future is in doubt after the Oilers Entertainment Group decided not to submit a bid to keep the event in Edmonton.

“[At] the end of the day, we looked at a lot of different options,” Oilers Entertainment Group Tim Shipton spokesperson told CTV News. “[We] could not find a model that we felt would lead to the success of that opportunity, so we have forgone the opportunity to submit a bid proposal for 2018 for CFR.”

The CFR was a Coliseum staple after spending 44 years in Edmonton.

“I think it holds a special part in a lot of people's eyes, just because it's been there for so long, and it was a good rodeo,” steer wrestler Cody Cassidy told CTV News.

The City of Red Deer submitted a bid in December to become the CFR’s next host, but the move has not been confirmed.

“Red Deer is certainly one of the options that we had and we’re going to work on coming through with what we think is the best proposal for the CPRA, for our contestants, and hopefully for the new community that we move to,” Canadian Professional Rodeo Association general manager Jeff Robson told CTV News.

Shipton also said OEG is working on a new “western lifestyle” festival at Rogers Place next winter.

With files from Jeremy Thompson