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DENVER - Denver is out of the running to host the 2016 Republican National Convention. Cleveland and Dallas are the two finalist cities.

"While we're thrilled to have made it this far, we are disappointed with today's decision," said Pete Coors, chairman of Denver's bid. "Denver has the amenities, the community, the political climate and a proven track record that would have made it the perfect place to host the 2016 Republican National Convention."

The news comes as a blow to organizers of Denver's bid, who told 9NEWS Tuesday night that either Dallas would win, or that Denver would be in a runoff with Dallas for hosting rights.

However, Wednesday morning national officials with the RNC disputed that claim before making the final announcement.

Sources close to the negotiations told 9NEWS Denver struggled to match the fundraising effort of Dallas, which has public funds available for attracting conventions.

Organizers of the Denver bid pledged early on to mount their effort with only private money.

Denver hosted the Democratic National Convention in 2008, which was seen as a rousing success.

Leaders of the Denver bid had previously acknowledged they weren't as far along as they wanted to be getting donors to commit funds to an RNC in Denver, pointing out that they're asking for donations from the same people currently giving to GOP candidates in the 2014 election.

The event is expected to bring 50,000 visitors to the host city, generating hundreds of millions of dollars in economic activity.

(KUSA-TV © 2014 Multimedia Holdings Corporation)

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