The league was looking to hold a shortened season in the hub city of Winnipeg.
The Canadian Football League announced the cancellation of its 2020 season amid the coronavirus pandemic.
The nine-team league said on Monday that it will focus on resuming in 2021 after its hopes to play a shortened season in the hub city of Winnipeg this fall were dashed.
"Our league governors decided today it is in the best long-term interests of the CFL to concentrate on the future," commissioner Randy Ambrosie said in a statement.
"We are absolutely committed to 2021, to the future of our league and the pursuit of our vision of a bigger, stronger, more global CFL."
The decision marks the first time the Grey Cup won't be presented since 1919.
The CFL's announcement followed a board of governors meeting to decide the fate of the season Monday. The league faced significant financial struggles after losing its top source of revenue–ticket sales–since large gatherings are prohibited during the pandemic. Earlier this month, the CFL requested a $30 million interest-free loan from the Canadian government to help hold an abbreviated 2020 season. However, reports surfaced Sunday night that the government denied the request, leaving the board of governors no choice but to cancel the season Monday.
"Even with additional support, our owners and community-held teams would have had to endure significant financial losses to play in 2020," Ambrosie said.
"Without it, the losses would be so large that they would really hamper our ability to bounce back strongly next year and beyond. The most important thing is the future of our league."
The CFL's cancellation comes at a time when multiple U.S. sports leagues have returned following the coronavirus-induced shutdown. MLB is currently playing a shortened 60-game season, while the NHL and NBA are finishing their seasons in hub city and bubble formats. The NFL, which makes most of its revenue from television contracts, plans to hold its regular season as scheduled.
The CFL was also looking to hold a shortened season in a hub city with six regular-season games followed by an eight-team playoff format. All matchups would have been played behind closed doors.