The CFR takes place in the fall and is the final event of the Canadian Professional Rodeo Association (CPRA) season.
[1] From its inception through 2007, the CFR had a unique sudden-death format in which none of the prize money the competitors had earned during the season carried over to the finals.
[1] In 2008, at the request of the competitors, the CFR adopted a format similar to that of the National Finals Rodeo in the United States.
[5][6] On January 16, 2018, it was announced that the Canadian Finals Rodeo would move to Red Deer, Alberta, beginning 2018, under a 10-year contract.
On October 25, 2023, it was announced that the CFR would be returning to Edmonton by 2024, with the rodeo held at Rogers Place.