Watch CBS News

USA Pro Challenge To Skip 2016 As It Transitions To New Ownership

DENVER (CBS4/AP) - There won't be a USA Pro Challenge in Colorado this year as the transition to a new ownership group will not let the new organizers produce the event and achieve all the goals of the race.

"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," USA Pro Challenge CEO Shawn Hunter said in a statement released Friday.

Hunter said they hope to bring the race back in 2017.

USA Pro Challenge - Stage 7
DENVER, CO - AUGUST 23: Rohan Dennis of Australia riding for BMC Racing in the leader's jersey rides in the peloton during stage seven from Golden to Denver of the 2015 USA Pro Challenge on August 23, 2015 in Denver, Colorado. (Photo by Chris Graythen/Getty Images)

"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. "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."

Richard and Rick Schaden had been financing the race with their own money. They spent about $20 million to fund the race through its first five years.

The Pro Challenge has become a major biking event in Colorado, with hundreds of thousands of people lining the race routes across the state.

Statement From Visit Denver

"The USA Pro Challenge is a world class sporting event that puts a global spotlight on Denver and Colorado, and generates millions of dollars in brand exposure for our city," said Richard Scharf, president and CEO for VISIT DENVER. "Sporting events like this are a huge economic driver for Denver and the state and we look forward to 2017 when the race returns."  

(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.