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Woodstock 50 Officially Loses Venue

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Watkins Glen International will no longer be hosting the 50th anniversary Woodstock music festival set to take place in August.

Officials from the racetrack issued a statement Monday afternoon that read, "Watkins Glen International terminated the site license for Woodstock pursuant to provisions of the contract. As such, WGI will not be hosting the Woodstock 50 Festival."

The statement did not include an explanation behind terminating the site license.

The news follows a legal dispute between the music festival organizers and their former financial investors Dentsu Aegis Network, who initially announced the cancellation of the festival back in April after announcing it will no longer be financial funding it. 

However, officials with Woodstock 50 have assured the public the festival was not canceled. 

The three-day music festival is set to take place August 16-18. There is no word on where the festival will be relocating.