- Associated Press - Thursday, October 1, 2015

DENVER (AP) - The family that owns the USA Pro Challenge is giving up the race, allowing the event to pursue a new ownership model.

The Denver Post reports (https://dpo.st/1JEDrE0 ) that father and son Richard and Rick Schaden have been financing the race with their own money. They spent about $20 million to float the race through its first five years.

Rick Schaden says he did not sell the race as he did not believe it was an asset that could be sold.

Race organizers are trying to transition to a large collection of investors as opposed to a single family, which race chief Shawn Hunter says will give the race long-term viability.

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


Information from: The Denver Post, https://www.denverpost.com

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide