Watkins Glen issued a two-sentence statement Monday saying it had terminated the site license for the festival “pursuant to provisions of the contract.”
A representative of the festival says a comment will be issued soon.
The festival scheduled Aug. 16-18 has faced a series of issues since a falling-out with backer Amplifi Live in April. Woodstock co-founder and 50th anniversary festival organizer Michael Lang filed a lawsuit against the investor.
The festival announced last month that investment bank Oppenheimer & Co. had signed on as a financial adviser to pull money together.
The tentative lineup includes Jay-Z, Santana, Miley Cyrus, John Fogerty, Dead & Company and Imagine Dragons.