The Canadian Football League announced Wednesday that its talks with the XFL about collaboration between the two leagues will no longer be pursued at this time.

The CFL said this was a joint decision between the leagues.

"Our talks with the XFL, exploring the potential for collaboration and innovation, have been positive and constructive. While we remain open to finding new ways to work together in the future, we and our XFL counterparts have jointly decided to not pursue any formal arrangements at this time," the league said in a statement.

The CFL said it is set to open its 2021 regular season on Aug. 5 and hold its championship game, the Grey Cup, on Dec. 12 in Hamilton, Ontario.

"We are looking forward to this year and a bright future for our league," the league said in the statement.

The CFL and XFL confirmed in March that they were discussing options for a potential partnership as they planned their return to the field following the COVID-19 pandemic.

XFL president and CEO Jeffrey Pollack said in March that planning for the 2022 season was on pause pending the outcome of those conversations with the CFL.

The CFL canceled its 2020 season after failing to secure $30 million in aid from the Canadian government.

The XFL canceled its 2020 season after five weeks of games and was put into bankruptcy proceedings by former owner Vince McMahon. Dany Garcia and fellow owners Dwayne Johnson and RedBird Capital Partners paid $15 million for the league last summer.

ESPN's Kevin Seifert contributed to this report.