- Associated Press - Friday, February 12, 2016

DENVER (AP) - The USA Pro Challenge has canceled this year’s bike race and hopes to return next year.

So far, the race has commitments from Lexus, Pepsi, Edward Jones Investments, UnitedHealthCare, Colorado State University and a group of other sponsors, and they are looking for more funding and financial backers.

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.

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This story has been corrected to show that the group is looking for new funding and financial backers, and they already have sponsors.

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