FORT COLLINS, Colo. (AP) - The USA Pro Challenge is looking for new sponsors after the bike race's main backers have stepped aside.
Last week, the Schaden family announced they would step down as financial backers of the race to allow a new ownership group to take over. The family lost $10 million in 2011 and $2 million this year.
The Fort Collins Coloradoan reports that race officials are hoping to attract a large pool of investors instead of one, big title sponsor to help give the race long-term viability.
So far, the race has commitments from Lexus, Pepsi, Edward Jones Investments, UnitedHealthCare, Colorado State University and a group of other mid-tier sponsors.
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