Decision on Phila. bike race is delayed again
Organizers of Philadelphia's annual professional bike race yesterday again delayed a decision on the event's future, saying they were negotiating with a potential new sponsor.
Organizers of Philadelphia's annual professional bike race yesterday again delayed a decision on the event's future, saying they were negotiating with a potential new sponsor.
Race organizers would not identify the potential sponsor, but they said a commitment by the organization would "go a long way to closing the financial gap" that has threatened the June 7 race.
Dave Chauner, co-founder of the TD Bank Philadelphia Cycling Championship, said he expected negotiations to be completed in the next day or two.
"We are not there yet, but it is promising," he said.
The race, which runs from the Benjamin Franklin Parkway to the Manayunk Wall, has been threatened with cancellation because of a $500,000 funding shortfall.
About half the shortfall is due to the loss of several key sponsors. The rest was the result of the city's decision this year to require that the race cover the city's costs. In the past, the city has waived those costs.
Since The Inquirer reported last week that the race was close to cancellation, organizers say they have been inundated with offers of help.
Last week, Gov. Rendell committed $50,000 to the event.
Chauner said yesterday that Rendell, Mayor Nutter and U.S. Rep. Bob Brady (D., Phila.) were part of discussions aimed at saving the race.
The event is the premier single-day professional cycling race in the United States. It also is one of the city's biggest public festivals, drawing hundreds of thousands for a day-long party along the race route.
