Organizers announced Friday that the Philadelphia International Cycling Classic, arguably the biggest one-day race in the U.S., has been cancelled for 2017.

“Regrettably, even after extensive fundraising efforts, we were not able to find enough sponsors interested in covering the $1 million cost of the bike race to host it this year,” said representatives from the city of Philadelphia managing director’s office.

The race was first held in 1985 and is best known for “Manayunk Wall,” a decisive climb up Levering Street and Lyceum Avenue in northwest Philadelphia with a 17-percent gradient. Over the years, Manayunk has become a popular spot for spectators.

“We were saddened to learn that the Philadelphia Cycling Classic will not be returning in 2017,” USA Cycling’s VP of national events Micah Rice said. “This event has been a cornerstone of the U.S. professional racing landscape for over three decades.”

In 2016, Philly was part of the first UCI Women’s WorldTour and was won that year by U.S. national champion Megan Guarnier. Spain’s Eduard Prades of Caja Rural won the men’s race that year.

At the end of the written statement, organizers said they aren’t ruling out reviving the race for 2018.