The NHL announced on Friday that the 2013 Winter Classic has been canceled, which means the entire Winter Festival will be wiped also. The cancellation of both events could cost the host cities of Ann Arbor and Detroit, Mich. up to $75-80 million. This outcome has long felt like an inevitable end to a situation darkened by a dismal lockout, and on Friday the league formally announced the decision in a press release. In that release, NHL Deputy Commissioner Bill Daly offered up a bare bones rationale for the decision:

"The logistical demands for staging events of this magnitude made today's decision unavoidable. We simply are out of time," said NHL Deputy Commissioner Bill Daly. "We are extremely disappointed, for our fans and for all those affected, to have to cancel the Winter Classic and Hockeytown Winter Festival events."

The league remains dedicated to bringing a Winter Classic event to Michigan, and the Winter Classic event has essentially been scheduled in the same venues for the 2014 season.That means the Detroit Red Wings and Toronto Maple Leafs are still set to meet in the next NHL Winter Classic. Daly added: "We look forward to bringing the next Winter Classic and the Hockeytown Winter Festival to Michigan."

For those who purchased tickets to the 2013 Winter Classic or the SiriusXM Hockeytown Winter Festival, ticket refund information can be found at: nhl.com/winterclassicrefund.