Parken hosted Europe's favourite TV show back in 2001 and was one of the big favourites to take on this mammoth task again next year.
Parken states the reason for this decision is that the arena will need to be occupied for up to six weeks in order to stage the event and as such Parken cannot do the job.
In the interests of the football club F.C. København in particular, and the Danish national football team who plays its home fixtures at Parken, the company is therefore unable to stage the event, according to administrative director of Parken, Anders Hørsholt.
"Football is our highest priority and in particular F.C. København will have a busy match program next spring. Therefore we have made this decision even though we really appreciate that many saw us as a suitable venue for Eurovision 2014".
"We also felt that it was best to research these things in good time and that is what we have done now. Unfortunately the conclusion is that it is not prudent for us to house the Eurovision Song Contest next year", says Anders Hørsholt.
Four venues still in the race
DR have said they hope to make a decision on the venue by the end of the summer. Currently, the 2014 Eurovision Song Contest is set to take place on the 13th, 15th and 17th of May.