Today, Art Basel released a statement formally cancelling the annual event due to the pandemic.

This decision was based on a number of factors, including restrictions on international travel, large-scale events, and gatherings, as well as other quarantine regulations. Florida also continues to be a COVID hotspot in the United States. There were a lot of logistics surrounding an event with a high-risk for low attendance.

“It is with great regret and disappointment that we announce the cancellation of our December show in Miami Beach, as we know how crucial our show is for our galleries, as well as for the greater Miami arts community and economy, said Noah Horowitz, Director Americas, Art Basel, in a statement. “We thank everyone who shared their perspectives and insights with us over the past months and weeks and look forward to returning to Miami Beach next year to deliver a successful show.”

In the statement, Art Basel also said that, despite not having any physical editions this year, organizers still hope to have a variety of online programming. All galleries that were set to show at the in-person 2020 fair will have access to virtual booths in the online version of Art Basel Miami Beach, set to appear on screens in December.