The group trying to bring back the Tour de Georgia has announced that it will cancel the race for 2010 and postpone the return "until at least 2011".
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The Tour de Georgia Foundation, Inc. had secured a place on the 2010 calendar from the UCI, but announced it had not come up with the financing to make the race a reality on Wednesday.
“This was not an easy decision, but one that was best in the current economic climate," said Tom Saddlemire, board member of the Tour de Georgia Foundation, Inc. "The Board of Directors and our advisors did all we could to tailor a race to fit within the economic realities of today and we are understandably disappointed in this announcement, but we are committed to bringing back the Tour as soon as possible."
The press release stated that the Foundation "thoroughly examined every potential avenue to bring a race together this year, but despite good fundraising efforts, there simply were not enough sponsorship dollars available to stage a Tour de Georgia in 2010".
The last edition of the Tour de Georgia took place in 2008, and was won by Team High Road's Kanstantin Siutsou in a close contest over Trent Lowe of Team Slipstream.
Sponsorship woes led to the cancelation of the 2009 event.