SOUTH LAKE TAHOE (CBS13) – It’s going to be a while before another Winter Olympic Games comes to Lake Tahoe.

The Reno-Tahoe Winter Games Coalition released a statement on Monday, saying they had declined to go forward with a bid for the 2030 games.

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“The RTWGC did not come to this decision lightly. However, it was a necessary decision,” the group wrote.

The coalition said it came to the conclusion that it would not be financially feasible for the region to host the Olympic and Paralympic games come 2030.

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“Given the parameters and conditions presented, we cannot make the numbers pass muster,” said the group’s board chairman, Brian Krolicki. “To continue, at this point, would be untenable and unwise.”

Lake Tahoe hosted the Winter Olympics in 1960.

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The RTWGC says they’re still hoping to eventually put forth a good bid for a Winter Olympic Games beyond 2030.