The NHL and NHL Players' Association announced Friday that the next World Cup of Hockey will not be held in February 2024 as originally planned.

In a statement, the NHL and NHLPA said "the current environment is not feasible" to hold the tournament next year, but they are hopeful it can return in February 2025:

The inaugural World Cup of Hockey was played in 1996, and the next installment did not occur until 2004 during the NHL lockout. The concept was revived in 2016 and was scheduled to be played again four years later in 2020, but the expiration of the NHL collective bargaining agreement caused its cancellation.

The Canada Cup, the precursor to the World Cup of Hockey, was contested five times from 1976 to 1991 and featured six of the top hockey nations in the world each time.

Canada was victorious on four occasions, while the Soviet Union took home the Canada Cup in 1981.

When the World Cup of Hockey debuted to much fanfare in 1996, it was largely due to the anticipation of a Canada vs. United States final. In a three-game series played in Philadelphia and Montreal, Team USA prevailed.

Canada beat Finland in the final at the next World Cup of Hockey in 2004, and the concept was shelved for the next 12 years.

Upon the World Cup of Hockey's return in 2016, some changes were made to the format. It still included eight teams like the 1996 and 2004 editions, but two of them were unique mash-ups.

Along with Canada, the United States, Russia, Sweden, Finland and Czech Republic, there was a Team Europe featuring European players from countries other than those already involved, and a Team North America, featuring Canadian and American players aged 23 or younger.

Canada defeated Europe in the best-of-three final, and Pittsburgh Penguins star Sidney Crosby was named the MVP after scoring a tournament-high 10 points.

In recent years, the world's best players have not had many opportunities to compete on the international stage.

NHL players were not permitted to compete at the 2018 or 2022 Winter Olympics, leaving only the IIHF World Championship, which often doesn't attract the best of the best.

A 2025 World Cup of Hockey represents the next big opportunity for top NHL stars to compete internationally, followed by a potential return of NHL players at the 2026 Winter Olympics in Italy.