The USA Pro Challenge cycling race "will not happen this year," as organizers "need more time to establish a new ownership structure and secure long-term investors," according to Jason Blevins of the DENVER POST. Pushing the race to '17 gives organizers "more time to enlist national sponsors and potentially add new Pro Challenge races across the country." Race CEO & Exec Dir Shawn Hunter: "What we don't want to do [is] put a Band-Aid on this." Blevins noted Hunter since October has "led a volunteer team in a search for community and national sponsors for the high-profile race." USA Pro Challenge's founders Rick and Richard Schaden "relinquished control of the race in late September, freeing Hunter to develop a new ownership model." Hunter has some "investors waiting in the wings," but the new ownership structure currently is "not ready for public exposure." As Hunter "shopped for new partners, he heard potential sponsors say they wished the race was more than a week." They "pined for a series of contests -- a season of racing." Hunter: "One of the important pieces is to allow for continued growth of the Pro Challenge, but also expansion and the introduction of new races over the next three to five years." Hunter said that Colorado will "anchor the new series of Pro Challenge races ... adding that the East Coast is 'the next logical step' for expansion of the Pro Challenge race brand." Hunter added that existing sponsors, including Lexus, "support the delay." Hunter: "Everyone agrees this was a prudent decision" (DENVER POST, 2/13).
OVERCOMING FINANCIAL OBSTACLES: In Colorado Springs, Nathan Van Dyne examined the history of the event and wrote the past "offers grim hope for its future." The race lost an estimated $10M "in its inaugural year" of '11. While losses "dwindled in subsequent years, the financial damage still totaled" $2M in '15. Five years "always had been the stated plan for breaking even." Without more funds, the race "likely will be gone for good." Colorado Springs-based The Sports Corp President & CEO Tom Osborne said, "It's not easy to stage a major international sporting event. You have to be good, but there's some luck involved as well. Shawn's team is very good, but they needed more time to get dialed in" (Colorado Springs GAZETTE, 2/13).
