Olympic champion runner Usain Bolt said he will not participate in the Crystal Palace Diamond League meet in London next month because of British tax rules.

Bolt’s advisers say he would have paid the 50 percent tax on the 166,000 pounds he would earn if he won the 100-meter race in August, but he is concerned about being taxed by British authorities for his other earnings outside the U.K., including his endorsement earnings. “I’m definitely not going to run,” he said at a press conference, according to the Associated Press.

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