Tour of Alberta Cancelled
At its height, the Tour of Alberta drew an estimated 40 million viewers from around the world, establishing itself as one of the top cycling races in North America and a brilliant way to showcase the Province of Alberta. But it was plagued with financial woes from the beginning, and after five years, the non-profit group that organized the event, the Alberta Peloton Association (APA), has cancelled the event and declared bankruptcy.
“The ATB Tour of Alberta was one of North America’s top cycling events and brought some of the world’s best cyclists to the Province of Alberta. We are very proud of the positive impact this event has had in showcasing Alberta’s people, communities and landscapes to the world,” said APA board chair Jeffrey Hansen-Carlson.
The race, sanctioned by Union Cycliste Internationale (UCI) and part of the UCI America Tour, began in 2013, the creation of former Professional road racer Alex Stieda, the first North American to wear the yellow jersey at the Tour de France. It was classified as a 2.1 race, which made it one of the highest-rated races on the Tour.
Over five years, 29 Alberta communities have hosted more than
525 Professional cyclists representing 33 countries. The event was annually broadcast in more than 150 countries.
Despite millions of dollars in funding from the province and widespread popularity, the Tour of Alberta could never make money or break even. APA board president Scott Fisher is quoted as saying the event cost an estimated $1 million per day to run.
When the APA declared bankruptcy, it had liabilities of a reported $1.615 million and left a trail of debt across the province, country and even one creditor in Switzerland.
“This decision did not come easily, however with the current economic conditions and decreases in traditional funding sources, we had no other option. We wish to express our sincere thanks to the partners, communities, vendors, volunteers, staff, cyclists, teams and fans who made the ATB Tour of Alberta a success over the last five years,” Hansen-Carlson added.
The Tour of Alberta was broadcast in more than 150 countries and drew an estimated 40 million viewers, but was plagued with financial woes from the beginning.