USA Pro Challenge bike race canceled for 2016

DENVER —The USA Pro Challenge cycling race in Colorado has been canceled for 2016, as efforts to form a new ownership group are taking longer than expected.

Organizers hope to revive the race in 2017.

Shawn Hunter, chief executive of the USA Pro Challenge, said Friday in a statement that the timing and work involved in transferring to a new ownership group after the father and son team of Rick and Richard Schaden, who launched the race in 2011, left the organization last year, forced the one-year cancellation.

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“We have targeted 2017 to restart this iconic race,” Hunter said in the statement. “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,” he said.

Cycling News reported that the Schadens owned the race since its inception in 2011 but had trouble securing a title sponsor or new investors to offset 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.

In the past, Boulder and Fort Collins have been host cities for stops on the race circuit, but they were left off the planned race route for 2016.

According to organizers, the Pro Challenge has grown into the largest spectator event in Colorado history. Organizers have estimated that the annual economic impact of the event is estimated at $130.