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USA Pro Cycling Challenge Sues Exergy Development Group
 
By Luke Allingham
Date: 4/24/2013
USA Pro Cycling Challenge Sues Exergy Development Group
 
USA Pro Cycling Challenge race organizers, listed under the plaintiff name of Classic Bicycle Racing, have filed a lawsuit against one of their main sponsors, Exergy Development Group. The suit was filed on April 10th, 2013 and is looking for a settlement of 2.5 million dollars, according to The Denver Post. According to race organizers, 2.5 million is the amount that Exergy agreed to pay the famous Colorado race in 2013 as part of a three year sponsorship agreement that was signed last year.

According to reports, Exergy Development had agreed to pay race organizers 1 million dollars between May 10th-September 30th, 2012. The company was also supposed to pay 2.5 million between October 1st, 2012-September 30th, 2013; as well as 2.5 million between October 1st, 2013 and September 30th, 2014.

According to the suit, Exergy Development Group failed to make payments on September 1st, September 15th, and February 1st.

The USA Pro Cycling Challenge race organizers will be announcing the race route in coming weeks. The race time trial is expected to be moved from Denver back to Vail.


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