Tic tic tic.......

(File photo) Posted: Monday, 27 April 2009 1:13PM Phila. Pro Bicycling Group Stretches Deadline to Close Funding Gap

by KYW's Steve Tawa Monday's announced "go/no-go" deadline for Philadelphia's pro bicycling race has been pushed back by one day by the race organizers. The June 7th event has been in danger of being canceled as organizers race a different kind of race -- to line up sponsors and close a budget gap. Race co-founder David Chauner says they are still about $400,000 short of the $1.7 million they need to hold the 25th annual installment of the race (see previous story). And now, he says, a new name has stepped forward as a possible savior. Chauner says that entity wants a Tuesday meeting to potentially seal the deal and save the race: "The party that wants to talk to us requested that we postpone the decision for 24 hours." Chauner says they had originally set the Monday deadline because contracts need to be signed for vendors, vehicles, tents, and catering. Also, he points out, participants -- comprising roughly 25 pro teams -- come from all over the world and need to make arrangements in advance. Governor Rendell, who previously committed $200,000 from the Commonwealth, is also pledging to buy $50,000 worth of VIP tickets for state workers. He's also urging the Greater Philadelphia Chamber of Commerce to get its member businesses to buy some of the those $75 and $100 VIP tickets.