2017 Manayunk Bike Race Cancelled

PHILADELPHIA (CBS) --  There will be no pro cycling race in Philadelphia this year, for only the second time since the original spectacle began in the mid 1980's.

The city of Philadelphia says "regrettably," it was not able to find enough sponsors to cover the $1 million cost of the bike race to host it this year.

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"Mayor Kenney and his administration did not want to spend city funds on the bike race."

Race Director Robin Morton says she had to scramble to tell the pro women's and men's racing teams to take it off their calendars for 2017.

"It's impactful to the teams, their programs, and what they were counting on."

She still hopes for a potential return in 2018.

The Manayunk Development Corporation had been involved in organizing the scaled back event for the last three years, and it put out a statement that reads, in part, "the grim reality is that security costs to stage large-scale events of this nature have spiraled nearly out-of-control."

The first Philadelphia Pro Cycling race in 1985 featured a spectacular out of nowhere win for Eric Heiden, the former Olympic speedskater.

Organizer Dave Chauner and his partner, Jerry Casale, mapped out the original route, with the start and finish on the Ben Franklin Parkway. It ran 28-years, but because of a lack of sponsors, the race was canceled in 2013.

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Former Mayor Nutter, and his wife Lisa, who is an avid cyclist, had the city take over the race in 2014, with the start/finish on Lyceum Ave in Roxborough, that steeply graded side street, dubbed the Manayunk Wall.

Despite the official word from the city that the race is cancelled, Councilman Curtis Jones, in whose district the event is held, says he's working with Congressman Bob Brady "to try to salvage it."

They're looking for corporate sponsors.