The AC/DC concert set to take place next week has been officially cancelled due to the severe damage at Rogers Stadium caused by last week’s storm that hit Toronto.

Live Nation’s decision to cancel the concert comes following what the company said was a “thorough assessment” of the damage.

The company added that given the damage, the venue is not capable of hosting the concert Sept. 16.

“Cancelling a concert is never a decision we want to make, and we know how disappointing this will be for all of us who have been looking forward to seeing AC/DC close out our summer season,” said Wayne Zronik, president of business operations for Live Nation Canada.

“Safety has to come first. Our teams have been working closely with the City and our partners to understand the storm damage and what needs to happen next. The right decision is to take the time to remove and rebuild the affected parts of the stadium to ensure it is ready to welcome fans next summer.”

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It’s a decision that comes hours after the City of Toronto received an engineering report on the damage suffered during last week’s massive rain and hail storm.

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Toronto reviews emergency operations as city cleans up in storm aftermath

Bleachers were left strewn across Rogers Stadium, which, in the aftermath of the “100-year storm,” also appeared to have partially collapsed grandstands.

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City inspectors slapped Live Nation with a violation notice after ordering them to close the site down, retain an engineer to inspect the venue and urgently work on repairs.

On Wednesday, a spokesperson for the City of Toronto said the engineer’s report had been received by officials and was under review.

Live Nation had until Sept. 8 to share its findings and solutions with the city, a deadline it met.

The order issued last week then said Live Nation must follow all the steps suggested by the engineer and update the city no later than Sept. 11 on what it’s been able to do.

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Reconstruction work, the city said, will require a building permit.

In a news release Wednesday evening, Live Nation said the work conducted by engineers determined that sections of the venue impacted by the storm will need to be removed and rebuilt.

“We’ve had an incredible summer at Rogers Stadium, and while this isn’t how we wanted the season to end, safety for fans, artists and employees will always come before any individual event,” Zronik said.

Original ticket purchases for the AC/DC concert will be automatically refunded through Ticketmaster, Live Nation said in its release. Fans who purchased resale tickets will need to contact their point of sale for refund information.