diff --git a/modules/ECMSetupVersion.cmake b/modules/ECMSetupVersion.cmake
index 7164c9a0bd..408ef33638 100644
--- a/modules/ECMSetupVersion.cmake
+++ b/modules/ECMSetupVersion.cmake
@@ -112,7 +112,6 @@ function(ecm_setup_version _version)
     set(use_project_version FALSE)
     cmake_policy(GET CMP0048 project_version_policy)
     if(project_version_policy STREQUAL "NEW")
-        set(project_manages_version TRUE)
         if(_version STREQUAL "PROJECT")
             set(use_project_version TRUE)
         endif()