Woods and Sorenstam were to play a televised match Sept. 23 against Canada's most famous golfers, Masters champion Mike Weir and Lorie Kane, at Magna Golf Club just north of Toronto.
``It's not going to happen,'' said the source, who is close to Woods' camp and spoke to The Associated Press on condition of anonymity.
The match had been in works since July, with the original date scheduled for Aug. 25. It was pushed back a month when funding fell through, then revived last week.
The source, who was helping organizers with the deal, said at least two significant groups could not come up with at least $1.5 million required to stage the exhibition.
Outside of Asia, Toronto had the largest outbreak of severe acute respiratory syndrome, a potentially deadly ailment. City officials insist the danger was overblown and are working to bring back tourists.
The match was to bring attention to Toronto as a vacation destination, similar to how Nick Faldo and Ernie Els played an exhibition in Bali in February to support tourism after a terrorist attack killed nearly 200 people.
The source said the match likely would not be rescheduled.
Woods has played in Canada the last three years. He won the Canadian Open in 2000 at Glen Abbey outside Toronto, then tied for 23rd the next year at Royal Montreal.
He also put on an exhibition in Toronto last year for American Express, which unveiled a card with his image.
Sorenstam, who became the first woman in 58 years on the PGA Tour when she played in the Colonial, still might play in the Skins Game in California over Thanksgiving weekend.
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