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USA Pro Challenge owners give up control

Posted at 12:42 PM, Sep 30, 2015
and last updated 2015-09-30 14:42:21-04

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 more from our partners in The Denver Post.