PhillyInc: Univest bike race is history, but organizer says a grand prix here isn't

Philadelphia's other bike race just lost its title corporate sponsor.

Univest Corp. of Pennsylvania has dropped support of the Univest Grand Prix professional bike race it has sponsored since it started in Souderton 14 years ago.

But while there won't be a Univest

Grand Prix in September 2012 or ever again, race organizer Sparta Cycling Inc. insists there will be a grand prix somewhere in the Philadelphia area that month.

That's because Sparta president John Eustice said the race featuring 160 cyclists was added last June to the International Cycling Union's 2012 racing calendar. The race also appears on USA Cycling's National Racing Calendar for Sept. 15.

"USA Cycling and the UCI do not like it in the slightest when one pulls a registered event, so I

am working to ensure I stay in business," Eustice wrote in an e-mailed response to questions.

That means lining up a new municipality in the Philadelphia region to host the race, and Eustice said he hopes to be able to name the location in about three weeks.

New York-based Sparta also will need to replace Univest, which Eustice said had been "the best sponsor ever." Eustice, who was raised in Bucks County, developed the race for the bank in 1997.

The bigger and better-known Philadelphia International Cycling Championship has also faced turnover in corporate sponsors during its 27-year run. CoreStates Bank was its founding sponsor for many years. First Union, Wachovia, Commerce Bank, and now TD Bank have all taken turns writing the big check.

Univest spokeswoman Kim Detwiler would not disclose how much the bank has spent to support the grand prix, only that it was "a significant investment."

In a statement, the bank with $2.17 billion in assets as of Sept. 30 called it a "difficult decision" to end the event. "While we enjoyed the community camaraderie, we believe our community needs our help during these challenging economic times in a different way," said Univest CEO William S. Aichele.

Even as it let the air out of the bike race's tires, Univest agreed to commit $100,000 to local nonprofits involved in youth education and wellness in 2012. Detwiler emphasized that these are "new dollars" that are "above and beyond" contributions the bank makes annually.

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