It's possible that 2016 could be the last year for Canadian Finals Rodeo in Edmonton. 

The Oilers Entertainment Group confirmed to CTV News that the Canadian Professional Rodeo Association (CPRA) did not accept a final offer from the CFR partnership of the Oilers Entertainment Group (OEG) and Northlands.

The local group's proposal was taken off the table after a March 1 deadline passed without a deal.

The Canadian Finals Rodeo is scheduled to be back at Rexall Place this fall, but it could move on to another city in 2017. Edmonton and Northlands have hosted the CFR for 42 years - the November, 2016 event will be the 43rd year in the city.

The partnership offer put forward by OEG and Northlands would move the CFR to Rogers Place, the new arena downtown, and keep Farm Fair International at the Northlands Expo Centre.

A release from CPRA said the organization’s plan was to go through request for proposal (RFP) processes with several cities interested in taking on CFR in 2017 – but in October 2015, the organization offered OEG and the City a 60-day grace period to submit a proposal for CFR. CPRA said the grace period was honoured, and extended in an attempt to come up with an agreement.

CPRA said the offer was voted down by the Board of Directors - CPRA President Murray Milan called the decision a ‘difficult’ one.

“I’m tired of seeing our cowboys pay to play,” CPRA General Manager Dan Eddy said.

“We’re called professional cowboys, but we don’t make near as much money as an NHL hockey player,” Steer wrestler Straws Milan said.

Milan said he enjoys competing in Edmonton, but thinks changing the event’s host city could mean more money for competitors.

“It’s time for a new contract and we’re looking for something more,” Milan said.

CPRA officials said they were looking for more money, better sponsorships and an increased investment in production.

However, City officials said they believe their offer was generous – because of the spin-off business Edmonton sees when CFR is on.

“People obviously spend money at hotels, restaurants, retail, so we understand the importance of it,” Councillor Michael Oshry said. “But at some point enough is enough and it becomes impractical to throw more money at it.”

Mayor Don Iveson said the proposal addressed possible challenges CFR could face with the move from Rexall Place to Rogers Place downtown.

“We had talked about what we could do to activate the rodeo and fan experience, connect more people to heritage, and as far as moving livestock a few blocks, that wouldn’t be an issue at all,” Iveson said.

Iveson said he wants to keep the rodeo in Edmonton, but it couldn’t stay without a venue.

Bob Nicholson with the Oilers Entertainment Group said “that door is closing very quickly” in relation to the CFR being held at Rogers Place.

“Since the rejection of this bid we’ve had a number of calls from other groups that feel they can jump in and fill, and we’re going to follow those leads,” Nicholson said.

Whereas Northlands, which operates Rexall Place and the Expo Centre said changing the venue for the CFR would be detrimental, since Farm Fair International is held at the Expo Centre.

“For CFR to be successful, you actually need Farm Fair to be around it,” Tim Reid with Northlands said. “So there is risk if you choose to move that product.”

While the initial offer was voted down, the organization said RFP documents are being sent to all cities interested in hosting the CFR, including Edmonton.

Iveson said he wants to continue with the bidding process – but he’ll need cooperation from OEG. The mayor said Edmonton might be at a disadvantage, because several details from the proposal have become public.

With files from Shanelle Kaul