Bad news for extreme sports fans: X Games will not be returning to Austin after 2016. In a brief statement on Tuesday, ESPN announced it is looking for a new host city for 2017-2018.
The news of its departure from Austin comes as a surprise, as ESPN agreed to a four-year run (through 2017) at Circuit of The Americas.
Speculation of the departure centers around financial concerns with COTA. The venue is regularly awarded state funding to underwrite the cost of major events like Formula 1 and X Games, however the most recent round was reduced dramatically. This led to uncertainty about the return of Formula 1 in 2016, but COTA has since locked down the U.S. Grand Prix, featuring Taylor Swift as the music headliner.
"We've been honored to call Austin home of the X Games since 2014," said X Games Vice President Tim Reed in the statement. "We thank [Circuit of The Americas], the City of Austin, and State of Texas for their support and look forward to an amazing final X Games Austin."
There's no news yet on who will take the reins from Austin, but previous finalists included Chicago; Detroit; and Charlotte.
X Games Austin will take over COTA one last time June 2 through 5. Tickets go on sale Thursday, March 24.