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USA Pro Challenge will not run in 2016

Organizers of the USA Pro Challenge stage race confirmed Friday that the event will not occur in 2016. In a written statement, CEO Shawn Hunter said that the race will aim to re-start in 2017.

The announcement comes less than a month after a USA Pro Challenge representative told VeloNews that the race would go on in 2016, indicating that organizers had found replacement funding following the exit of its former financial backers, the Schaden family. In September, the USA Pro Challenge announced that the Schaden family would step down from its role as the race’s backer to allow for a new ownership group to take over the five-year-old race.

It is unclear whether the required funding was never found, or was simply found too late.

“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,” a statement read. “Instead, we have targeted 2017 to restart this iconic race. Since the inaugural USA Pro Challenge in 2011, the race has been a great Colorado community asset and has quickly become one of the most exciting races on the global cycling calendar, for fans and competitors.”

According to organizers, the event had grown into Colorado’s largest sporting event, with an estimated economic impact of $130 million.