The Florida Balloon Festival, which had been scheduled for this weekend, has been canceled.

The festival was scheduled to be held Oct. 3-5 at the Premier Sports Campus in Lakewood Ranch.

Organizers blame the rain and other factors where the balloons were to be launched for the decision.  

Rain and thunderstorms are expected to continue through the week.

Refunds for tickets purchased in advance are now taking place.

There is no word yet on whether the event will be rescheduled.

For more information, visit floridaballoonfestival.com or call 1-800-661-0823.