New York City's first country music festival, Farmborough, will not be returning to Randall's Island in 2016 after all. After announcing a lineup that boasted the likes of Tim McGraw, Jason Aldean and Toby Keith, on Tuesday (Feb. 9), Founders Entertainment announced that the festival has been cancelled.

Founders Entertainment made the announcement with few details on its official website, citing that they need to "redirect our energy at this time."

"FarmBorough Festival will not return to Randall's Island in June of 2016. All of us at FarmBorough Festival appreciate the support we have received, but conditions dictate that we redirect our energy at this time. We appreciate the opportunity you afforded us to present FarmBorough in New York City, and apologize for any inconvenience. Festival Passes and Ferry Passes will be refunded through point of purchase and the process will start Tuesday, February 9th," the statement reads.

Though the message does not get in to specifics, it seems as though Founders is refocusing on its original NYC festival, Governors Ball, which is facing new competition this year from Panorama Fest, a new New York music festival put on by the founders of Coachella. Panorama, originally slated for a site in Queens, will take place on Randall's Island from July 22 to 24, seven weeks after Governors Ball.

For fans who have already purchased tickets to this year's Farmbourough, the refund process is set to begin today and will be processed back to cards over the "next several business days."

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