UPDATED: Put Down The Protein Shake, Stereosonic May Be Gone

UPDATED:

Stereosonic organisers have confirmed speculation on the festivals cancellation through social media. Organisers have said that the event will be taking a “hiatus” in 2016.

“Totem Onelove Group is currently working on bringing Stereosonic fans the best festival experience possible,” they wrote.

“As part of this, we are taking a hiatus during 2016. However, we will return in 2017, bigger and better.”

Here’s what we wrote earlier today:

Gym junkies and dude-bros alike have entered a mourning period as reports have emerged that beloved EDM festival Stereosonic may be receiving the boot.

The Daily Telegraph has reported that festival promoters Totem OneLove and SFX Entertainment have cancelled the event for good. 

There is speculation as to whether the festival’s cancellation is due to SFX Entertainment’s recent financial difficulties after the company filed for bankruptcy earlier this year. 

Other potential causes for the rumours include two deaths at the festival’s most recent Summer tour, along with many other cases of drug overdose.

There is no need to drop the bulking routine just yet – the report comes simply as “industry speculation” since promoters refused to comment on the alleged cancellation.

Festival founder Frank Cotela told The Daily Telegraph, “I just don’t know what is going on there at Stereosonic.”

Reports have also emerged that Cotela and partner Richie McNeill have plans to start a new project, but Cotela dashed the rumours. “Not at this stage no. Maybe in the future I will do something but at this stage there is nothing on the go,” he said.

These reports of cancellation come only a few weeks after the festival announced their support of pill-testing trials in order to minimise harm at future events.  Whether there will be any future events is now a game of wait and see.