The owners of the Quiznos sandwich chain and the Quiznos Pro Challenge stage race, have invested an additional $10 million in the event, they announced Friday.
“This investment further demonstrates our commitment to the future of the Quiznos Pro Challenge,” said event co-chairman Rick Schaden. “Showing financial stability demonstrates the event’s ability for longevity in the international sports arena for many years to come.”
The investment is in addition to the sponsorship investment by the restaurant chain.
Schaden is the founder and chairman of Consumer Capital Partners, a private investment firm headquartered in Denver. He is also the founder and majority shareholder of Quiznos and other consumer businesses.
“Financial backing of this magnitude demonstrates the level of seriousness our founders are giving this race,” said Shawn Hunter, the race’s other co-chairman. “This announcement makes the statement that the Quiznos Pro Challenge has the potential to be one of the biggest professional cycling events in the world.”
The inaugural event will take place August 22-28. Hunter told The Denver Post that the race was working on a live television contract and hoped to announce an agreement in the next couple of weeks.