Hugh Hefner and Crystal Harris called off weekend wedding

What is the real reason why 85-year-old Playboy founder Hugh Hefner and his 25-year-old fiancée, Crystal Harris, called off their weekend wedding?

Well, it depends on who ask.

Rumor has it that Harris, who was scheduled to wed Hefner this Saturday at the Playboy mansion, is having an affair with Jordan McGraw, who happens to be Dr. Phil McGraw’s son.

Life & Style magazine first reported the alleged affair in March when Harris and McGraw, who wrote the opening song for his father’s TV show, were seen sneaking into Chateau Marmont holding hands and kissing.

When the magazine broke the story three months ago, a rep for the model called the allegations untrue and said the story was a “complete fabrication.”

That same rep, Michael Blakey, read a statement today, written by Harris, calling the split “an amicable one.”

“After much deep reflection and thought,” the statement said. ”I have decided to end my engagement with Hef.  I have the utmost respect for Hef and wish the best going forward.”

Harris and Hufner had been engaged since December 2010.