The Branford Marsalis Quartet performs at the 2009 Calgary Jazz Festival. (Courtesy of the Calgary Jazz Association)

Organizers have cancelled the 2010 Calgary Jazz Festival because of financial constraints — just before the event was scheduled to start.

In a written release, interim C-Jazz president Richard Sherry said the decision came after a six-hour board meeting on Saturday, two days before the festival was to open.

The lineup for the festival this year included jazz legend Chick Corea, who was to perform Friday.

Sherry said the "painful" decision to cancel the festival followed an in-depth examination of all its financial aspects.

"For several months, the board had been asking the C-Jazz executive director for a detailed rundown of expenses and cash flow required for the 2010 festival," Sherry said.

"It wasn't until … two days before the festival that we finally got a look. We were surprised that our wishes to scale down the festival following the difficult 2009 festival were, for the most part, disregarded."

Sherry said the board concluded that "there was no possibility of financial success in 2010."

He said the board thought "less pain would be inflicted on the artists, volunteers and jazz music fans" by cancelling the event before the opening instead of during the festival next week, which seemed likely.

Arrangements are being made to enable refunds for people who bought passes or event tickets.