The Atlanta Journal-Constitution reports today that the Tour de Georgia bicycle stage race is on life support and may go the way of the dinosaur if a major sponsor can’t be lined up for 2011.
Event organizers recently made the decision to cancel the 2010 race when they couldn’t get a title sponsor to kick in the necessary $500,000 to $1,000,000. The lack of a major financial supporter has a negative trickle down effect that makes it nearly impossible to secure all the supporting and secondary sponsors that make the event possible. It costs about $3.5 million to put on the six day, 600-mile race.
The race, which had a successful six-year run from 2003 to 2008 and saw Lance Armstrong compete more than once and win the 2005 event, is estimated to pump in more than $30 million annually to Georgia’s economy.
Check out the full story on AJC.com here.
