*Oh well, looks like we lost our bet that Eddie Murphy would stay on as host of the up coming Oscars after his creative partner, Brett Ratner, was forced to resign as the show’s producer. Glad we didn’t put any money on it.

In a statement, Academy of Motion Picture Arts and Sciences President Tom Sherak announced that Murphy has withdrawn as host of the 84th Academy Awards.

“I appreciate how Eddie feels about losing his creative partner, Brett Ratner, and we all wish him well,” said Sherak.

Here’s what Murphy had to say about vacating the hosting job:

“First and foremost I want to say that I completely understand and support each party’s decision with regard to a change of producers for this year’s Academy Awards ceremony. I was truly looking forward to being a part of the show that our production team and writers were just starting to develop, but I’m sure that the new production team and host will do an equally great job.”

Academy Awards for outstanding film achievements of 2011 will be presented on Sunday, February 26, 2012, at the Kodak Theatre in Hollywood.  The show also will be televised live in more than 200 countries worldwide.