One of the top professional cycling races in the U.S. is hitting the brakes again.

The Maryland Cycling Classic faced hurdles — including the pandemic and the Key Bridge collapse — as it grew each year, but after financial problems resulted in a state bailout, the race won’t happen at all in 2026.

That doesn’t mean it’s over for good. A state-created nonprofit had run the event, but it folded late last year. Instead, an “independent group is currently working with city and state leaders to secure funding and sponsorship” to bring the event back in 2027, organizers told The Banner on Thursday.

The future of the event, which attracts elite cyclists to Baltimore, had been in question. But Steve Brunner and John Kelly, who have long helped operate the race, said they spent the past several months speaking with sponsors and government leaders to chart a path forward.

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The event is the most prestigious one-day cycling race held in the U.S., and last year about 85,000 spectators watched as cyclists sped through the city. An increasing number of Tour de France participants have also competed in the Maryland Cycling Classic, Brunner noted.

Brunner, who is based in Colorado and has run events across the U.S. and in Canada, said it makes sense to continue the race in Maryland because of positive reviews from cyclists and since its East Coast locale makes logistical sense for international competitors.

“Baltimore is a hidden gem, in my opinion,” he said.

First announced in late 2019 as an official competition with the Union Cycliste Internationale, global racing’s governing body, the inaugural race was almost immediately postponed due to the coronavirus pandemic. Instead, the race was held over Labor Day weekend in 2022 and 2023 in Baltimore City and Baltimore County. It was canceled in 2024 to “not stress an already overloaded road system” following the Key Bridge collapse, but returned last year within Baltimore City limits.

A system of drones and cameras — both fixed and on bikes — have livestreamed the race internationally.

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“It’s like a postcard to the world,” said Kelly, of the insurance broker Kelly Benefits, who has served as the race’s chair.

The event’s former host was a state-created nonprofit called the Sport and Entertainment Corporation of Maryland, but it was abruptly dissolved late last year. That nonprofit was an arm of the Maryland Sports Commission, which had been headed by Terry Hasseltine since 2008.

But Hasseltine — the face of efforts to attract major events, such as the World Cup — exited that job, as well as his Maryland Stadium Authority leadership role, without explanation in December.

Shortly afterward, a state bailout helped pay the nonprofit’s employees, as well as vendors who had been left unpaid.

Internal audit reports, obtained by The Banner in an open records request, painted a picture of a financially struggling organization. State-backed tourism events are generally not seeking significant profits, but rather to deliver economic impact. Still, the nonprofit had trouble breaking even.

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It received a Paycheck Protection Program loan of $122,000 from the federal government during the height of the pandemic, which was forgiven, then took out another loan in 2022, and had to find outside funding in 2023 when it “experienced a loss from operations.”

The outlook then grew more dire. A 2024 audit found “substantial doubt” that the nonprofit could “continue as a going concern,” meaning it’s unclear if the entity could financially survive.

By the end of 2025, the nonprofit was unable to pay vendors for two large events it held: the Cycling Classic, as well as the Maryland 5 Star equestrian event. The state eventually provided about $2 million to pay debts owed to employees and vendors, mostly tied to the equestrian event.

Handling those financial issues curtailed potential efforts to host a race this year. But Kelly is optimistic the race can be sustainable down the road.

“For this race to happen, we have to find a path where financial risk can be managed,” he said, “and that’s what we’re working on.”