USA Pro Challenge owners give up the race | AspenTimes.com

USA Pro Challenge owners give up the race

Jason Blevins
The Denver Post

The cyclists in the USA Pro Challenge peloton ride across the top of Independence Pass in August. The Schaden family announced Wednesday they're relinquishing control of the race, meaning race organizers are now pursuing a new ownership model.

The Schaden family is relinquishing control of the USA Pro Challenge, giving hope to the future of the high-profile professional cycling race across Colorado.

With the Schadens stepping aside, race organizers now are pursuing a new ownership model: a large collection of community-based and national investors — not just a single family — that will give the race the long-term viability that draws even more investors, said race chief Shawn Hunter.

"People want to know there's a plan for long-term success and they want to see a homegrown ownership group. Having more than one individual in charge is a good thing," Hunter said. "I think there are a lot of people here in Colorado who will be a part of this group and some people on the national level who have watched what we have built and want to be a part of it. The goal is not just raising money. We want strategic investors who understand this opportunity and are willing to grow it."

Denver businessman Ken Gart is joining Hunter in the search for investors.

Read the rest of this story at http://www.denverpost.com.