The USA Pro Challenge will not return for a sixth year, organisers of the UCI 2.HC race in Colorado announced today. Race CEO Shawn Hunter said organisers are targeting a 2017 return.
“The timing and work involved in this endeavor does not allow us to produce the event in 2016 and achieve all the goals of our important stakeholders. Instead, we have targeted 2017 to restart this iconic race,” he said in a statement released Friday afternoon.
The race lost father and son investors Rick and Richard Schaden following the 2015 event and organisers were apparently unable to find a new investment group or land a title sponsor that could keep the race afloat this year.
ADVERTISEMENT
Hunter hoped to put together a broad-based ownership group rather than relying on a single family to support the event. Denver businessman Ken Gart, who leads Colorado Gov. John Hickenlooper's "Pedal Colorado" initiative to improve cycling in the state, joined Hunter in the search for a new ownership group.
The Schadens owned the race since its inception in 2011 but had trouble securing a title sponsor or new investors to offset the annual losses. The race reportedly lost $2 million in 2015 and the Schaden’s total investment over five years was estimated to be more than $20 million.
"While forming a new ownership group for the event, we have been focused on ensuring the longevity of the race, expanding its coverage, and aligning it with other United States cycling events and activities," Hunter said in a statement released by the race. "Building a solid platform of this type takes time and the efforts of many diverse stakeholders, and while we will not be conducting America’s Race this year, we are diligently working to complete the necessary pieces for 2017.
You can read more at Cyclingnews.com
via Cyclingnews Latest News http://ift.tt/1ThZivc
No comments:
Post a Comment