Decision delayed on Phila. cycling race

Philadelphia's annual professional bike race got a one-day reprieve today as organizers hoped a last-minute meeting scheduled for tomorrow might stay the event's cancellation.

Race organizer Dave Chauner had said he would have a decision about the event's fate at 5 p.m. today. He pushed the self-imposed deadline back 24 hours, he said, to meet with a possible backer tomorrow.

"We've had a call of interest from someone," Chauner said. He declined to identify the caller other than to say it was a possible source of funding, but not a potential sponsor.

The TD Bank Philadelphia Cycling Championship faces cancellation because of a $500,000 budget gap caused by the loss of several key sponsors and the city's demand this year that organizers cover about $220,000 in municipal costs.

The race, which runs from Eakins Oval to the Manayunk "Wall," has been a city staple for 24 years. Chauner, president of Pro Cycling Tour, which runs the event, said organizers had raised about $100,000 since last Tuesday, when the race's financial problems first came to light.

That figure includes $50,000 that Gov. Rendell has committed from the state to purchase VIP tickets for state workers.

The amount, however, is not enough to finance the race at this point. Chauner has said organizers needed at least a $190,000 down payment to the city, which is due May 15.

Time is rapidly running out, Chauner said. For the June 7 race to take place, there are contracts and other commitments that need to be made now, he added.

Contact Christopher K. Hepp at 215-854-2208 or chepp@phillynews.com