He has also questioned the “viability” of the party going forward, and said the decision has been a “bitter blow” for activists.
But he told members that fighting an election this year was simply “beyond our resources”.
The Alba Party was founded by the late Alex Salmond (Image: NQ)
Mr MacAskill pledged to provide further information in the coming days.
In an email shown to The Herald, he wrote: “I have to advise that it looks likely that we will not be able to register and therefore unable even to contest the election.
“That brings also into question the viability of a party which neither has financial resources nor the ability to contest elections.
“I know this will come as a bitter blow to you.”
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Alba was founded by former First Minister Alex Salmond, who led the pro-Scottish Independence party until his death in October 2024.
Mr MacAskill, who took over as leader from Mr Salmond, had previously said Alba was facing “very difficult” financial straits, amidst a police probe into alleged fraud.
In his email, he goes further, saying that the party could not supply accounts to the Electoral Commission in time to register for the election.
He wrote: “Financial irregularities have come to light since the dismissal of the General Secretary for gross misconduct.
“These have been reported to the Police and an investigation which we are assisting and fully cooperating with is ongoing. Matters are with the Crown Office and Procurator Fiscal Service, and I expect matters to progress further shortly.”
He continues: “I can assure you of integrity of current staff and elected office bearers but neither that nor justice being done addresses the perilous financial position which we find ourselves in as a result.”
Mr MacAskill said that the financial position “remains acute.”
The email continues: “We have been in touch with the Electoral Commission who have shown great forbearance in the late lodging of audited accounts.
“But we face a financial situation where we simply cannot provide the further accounts which they require, along with meeting staff wages and covering other costs which we are either tied into or are required to meet.
“In these circumstances fighting an election is simply beyond our resources.”
The decision has been criticised by some within the party, with Alba Youth co-convenor Christina Hendry, the niece of Alex Salmond, speaking of her frustration that the move was not made by the Alba membership.
Christina Hendry (Image: NQ)
Ms Hendry had been vying to stand in first place in the North East regional list, but this position was taken by Kenny MacAskill.
In a statement to members, she said: “I am frustrated by the announcement made by the party leadership today. The decision to de-register the party should not rest with a handful of members in the leadership team, some of whom have no electoral mandate. It belongs to you, the entire ALBA Party membership.
“The party leadership have put in extraordinary amount of work over the past year and have done so in very trying circumstances. However the fight is not over and if they are now unable or unwilling to continue, they should allow the opportunity to those that will. I am not prepared to stand by and watch my uncle’s legacy discarded and the cause of independence abandoned.”
She added: “ALBA Party has a positive argument to put to the Scottish people in this election, one that is resonating with the grassroots of the independence movement. With ALBA standing on the Regional List, independence is on the ballot.
“This party belongs to the members, and it is up to the members to take it forward. I, along with any other party members who want to work together, will ensure the party continues and the dream of independence never dies.”
The withdrawal from the election is the latest blow to affect Alba, which has struggled to become a force in Scottish politics.
Last month, party chair Tasmina Ahmed-Sheikh temporarily stepped down from her role, also citing “personal reasons”.
The longtime Salmond ally was in North Macedonia with the politician when he died in October 2024.
Another key confidante of the late First Minister, Chris McEleny, was expelled from the party in May 2025.
Last autumn, McEleny threatened legal action against Alba, urging party leadership to “cease and desist further smears” amid a row over party finances.
Similarly, its only MSP, Ash Regan, left the party last year over concerns about its “direction”.
She had stood to be leader of the party, but was beaten by MacAskill.
