David Lynch has said he will not be involved in the much-publicised Twin Peaks revival.

The show's creator announced on Twitter that he had pulled out, as he felt not enough money was being committed to do the script "the way [he] felt it needed to be done".

His decision comes after more than a year of negotiations, and now the question is whether the series could still go ahead without his involvement.

"This weekend I started to call actors to let them know I would not be directing. Twin Peaks may still be very much alive at Showtime," he said, suggesting it may survive.

"I love the world of Twin Peaks and wish things could have worked out differently."

Showtime responded in a statement, saying: "We were saddened to read David Lynch's statement today since we believed we were working towards solutions with David and his reps on the few remaining deal points.

"Showtime also loves the world of Twin Peaks and we continue to hold out hope that we can bring it back in all its glory with both of its extraordinary creators, David Lynch and Mark Frost, at its helm."

Lynch previously voiced doubts over Twin Peaks' revival, stating last month that there were "complications" surrounding the project.

"I'm not sure at this point if it's happening," he said at the opening of the Between Two Worlds exhibition in Brisbane.