by KYW's Steve Tawa and Hadas Kuznits
The organizers of Philadelphia's professional bicycle race gave Mayor Nutter a private update on Tuesday on their last-minute efforts to secure funding for the 25th running of the cycling event. Now, they say a decision may come in the next couple of days.
Race officials had been working under a self-imposed 5pm Tuesday deadline to decide whether the race will go on.
At City Hall, co-founders David Chauner and Jerry Casale came out of the meeting with the mayor saying they were rushing back to the Pro Cycling Tour offices to make follow-up calls with a potential backer.
But they say they are still short by about $400,000.
So for now, the fate of the bike race is still unclear.
Dave Chauner, executive director of the Philadelphia International Cycling Championship, says it will still be some time before they have an answer:
"We've had some very interesting developments -- we have been in discussion with a potential presenting sponsor that looks very promising. We won't be able to conclude those discussions, so we are extending our deadline."
How much will that sponsor donate?
"We're hoping it would be at least half of the remaining amount -- if not more. Clearly, we've got to continue to sell tickets -- and by the way, the response has been overwhelming."
Mayor Nutter, Governor Rendell, and US Rep. Bob Brady were also said to be in the loop on scouting for more sponsors or what is described as "another potential source of funding" (other than a sponsor) to ensure that the event doesn't get canceled.
Rendell, for example, wants area businesses to buy VIP tickets. Organizers say they've raised about $100,000 in those ticket sales since last week, at $75 to $100 each for seating under catered tents at the start/finish line.
Race organizers also know that they'll have to cover municipal costs, between $220,000 and $240,000, because of the city's budget problems.
It would cost $1.7 million to stage the June 7th event, and Chauner says contracts and other commitments need to be in place immediately to make it happen.
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