The Richest Indian Rodeo will not return to the Nicola Valley.

The Nicola Tribal Association (NTA) has not overcome the financial hit it took from organizing and sponsoring the Richest Indian Rodeo on its debut in March 2010, according to Marcel Shackelly, the association’s executive director.

“We still owe money on that rodeo. We’re still working our way through making those payments.”

Former executive director Victor Tom, who pushed for the rodeo’s creation, resigned in June 2010.

His temporary successor, interim general manager Neil Todd, worked to implement a financial recovery plan that longtime NTA leaders designed to save costs. That recovery plan included staff cuts.

Shackelly became executive director in January. He says that although the NTA has recently hired several employees, they are mainly part-time and contract workers brought in for the association’s busy field season, from spring until autumn.

“The strategy is to man up and really watch the overhead to make up that deficit.”