SIOUX FALLS, S.D. (AP) — The president of a South Dakota tribe facing a deadline on whether to buy a piece of land where 300 of their ancestors were massacred more than a century ago says his tribe does not have the money for the purchase.

The Oglala Sioux faced a Wednesday deadline to buy a 40-acre piece of the Wounded Knee National Historic Landmark on the Pine Ridge Indian Reservation.

Owner James Czywczynski (see-ZIHN'-skee) had said if the tribe did not agree to the $4.9 million asking price for that parcel and another parcel, he would open up bidding to outside investors.

Tribal president Bryan Brewer tells The Associated Press the tribe will not purchase the land, which has been appraised at less than $7,000 apiece.

Czywczynski has not responded to calls for comment.