Laureus says its World Sports Awards will not be held in Rio de Janeiro this year, another setback for Brazil as it attempts to organise the World Cup and the Rio de Janeiro Olympics in 2016.
Laureus announced the decision in a brief statement on Wednesday without elaborating, and said new plans would be revealed "shortly."
Brazilian media have reported the cancellation centres around a money dispute between organisers and the state of Rio de Janeiro.
Reports say Laureus is owed money under the terms of the contract.
"Laureus and the state of Rio de Janeiro have agreed that the 2014 Laureus World Sports Awards will not be staged in Rio," the brief statement said.
A spokesperson for the state government's Secretariat of Sports and Leisure did not offer an immediate response to an inquiry from The Associated Press.
The Laureus Awards, dubbed the Oscars of sports, were given to Rio for 2013 and 2014.
Last March, Usain Bolt and Jessica Ennis received the biggest individual prizes.
Laureus' decision comes three months after the Soccerex conference, a trade show for football, was called off in a dispute with the Rio state government.
The state government said that cancellation involved a law that would give tax breaks to the event organisers.
The organisers said it was called off because of security concerns, a charge denied by the state government.
Brazil is facing countless problems organising the World Cup, which starts in five months.
As many as three stadiums may not be ready until April, and travel and soaring hotel prices promise headaches.
Share
