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LOS ANGELES, Calif. (KTXL) — The Amgen Tour of California will be on hiatus for the 2020 racing season, according to AEG Sports.

“This has been a very difficult decision to make, but the business fundamentals of the Amgen Tour of California have changed since we launched the race 14 years ago,” Kristin Klein, president of the Amgen Tour of California and executive vice president of AEG Sports, said in a released statement.

According to AEG, the cycling road race has become California’s largest annual sporting event, contributing more than $3.5 billion to the state’s economy over the years.

“While professional cycling globally continues to grow and we are very proud of the work we have done to increase the relevance of professional cycling, particularly in the United States, it has become more challenging each year to mount the race,” said Klein.

Klein said AEG will be “assessing every aspect of our event” to find a business model that allows AEG to relaunch the race in 2021.

Since the race’s launch in 2006, it has showcased some of today’s best known and most decorated international cyclists, including numerous world, Olympic and national champions, according to AEG.