Kings of Leon's lead singer Caleb Followill performs with the band Friday September 12, 2014, at Gexa Energy Pavilion in Dallas Texas.

Kings of Leon's lead singer Caleb Followill performs with the band Friday September 12, 2014, at Gexa Energy Pavilion in Dallas Texas.

Ricky Moon/Special Contributor

Texas Motor Speedway will likely not host three-day mega music event NiFi Festival in 2016 after all. 

After the festival's decision last week to cancel the inaugural edition in Kentucky, Speedway Motorsports Inc. is expected to "dissolve our relationship with NiFi," said Kenton Nelson, Texas Motor Speedway's vice president of events and assistant general manager.

NiFi Fest, expected to hit D-FW in 2016, cancels first attempt in Kentucky

"It doesn't look like they have everything they need to be able to this pull this off," Nelson said by phone Tuesday morning. He is still waiting for final confirmation from SMI, which is also expected to release an official statement soon.

NiFi was slated to make its debut at the Kentucky Motor Speedway in late-August to the tune of headliners Kings of Leon, Green Day and Miranda Lambert, but organizers pulled the plug due to underwhelming ticket sales, according to a Facebook post that has since been deleted. The fest was also supposed to hit several other racetracks, including ones in North Carolina, California, and Atlanta, through a 10-year exclusive deal between SMI and entertainment production company Nitro Fidelity.

Despite the news, Nelson is confident Texas Motor Speedway will throw a festival of similar caliber in 2016.

"We've had a number of festival people that we've been in contact with throughout this whole process, and all of them have called to say, 'Your NiFi deal is done, can we now start talking about bringing our festival out there?'" he said.

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