The U.S. Open of Cycling, whose inaugural event last year will be remembered for its epic snowy conditions and network television coverage, will not take place this year, the race's promoter said Friday.

The event was run last year in Virginia. Promoters announced last month that they had moved it to a May date for 2008 and changed the venue to Providence, Rhode Island.

But Richard Durishin of Red Five Sports Group said the late changes did not allow time to line up sponsors and other business partners.

"There just hasn't been time to fully develop the event. We will continue the development we have started as we look forward to the 2009 U.S. Open of Cycling," he said.