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After 14 years of hosting the Univest Grand Prix, a world-class professional cycling event that was known for uniting communities and showcasing the best young talent in cycling, Univest Corporation and Sparta Cycling, Inc. today announced the end of this community celebration and two-day cycling competition.

“This was a difficult decision. Over the past 14 years, the Univest Grand Prix became a tradition for our employees, customers and many in our community each September as a result of the partnerships established with fellow businesses, nonprofits, volunteers and other community leaders,” said William S. Aichele, chairman, president and chief executive officer of Univest Corporation. “While we enjoyed the community camaraderie, we believe our community needs our help during these challenging economic times in a different way. Nonprofits locally are losing funding streams at the same time the demand for services increases and we want to be there to invest in what our local communities need most.”

The announcement of the end of Univest’s title sponsorship of the event is coupled with a new community effort – “Committed to Local,” where Univest has announced it will invest $100,000 in contributions to local nonprofit organizations in need of support to carry out their services and advance their missions in 2012. Univest said it will direct its financial support to organizations and efforts specifically around youth education and wellness development, two areas supported previously through the Univest Grand Prix.

“The community participation is what I will miss the most,” said John Eustice, president of Sparta Cycling, Inc., two-time U.S. national champion and race director. “I want to thank the thousands of people over the years who opened their homes to the teams, volunteered on the racecourse and came out to cheer; not to mention the sponsors, police, mayors and civic authorities – all who worked together in common cause and created a fine international sporting event. I especially would like to thank Christopher Shinners, David Henninger and Rick Grater, without whom there would have never been one, let alone 14 Univest Grand Prix’s.”

The Univest Grand Prix was created for Univest by Eustice as a way to reach out to the communities surrounding Univest’s corporate hometown, Souderton, Pa., and create an event to bring people together. While the race started as an amateur event, it quickly earned a reputation for showcasing the best rising talent in the sport. Through the years, it became a springboard to professional racing contracts for such stars as Belgium’s Tom Boonen and America’s Will Frischkorn and Mike Friedman.

Each year, excitement surrounded the event as it was evolving and changing to challenge the athletes, grow in its technical difficulty and appeal to spectators. In its final year, the development of the racecourse and overall event earned the Univest Grand Prix national recognition as the top men’s race (1.HC) on the National Racing Calendar (NRC). In addition to this top spot, the road race in Souderton was classified by the world bicycle racings governing body as a UCI 1.2 race.

“The successes throughout the 14-year history of the event earned the Univest Grand Prix great prestige,” said Eustice. “In our final year, we became the only men’s race to hold dual-classifications in the country. We are proud of the contributions the event has made to enhance the future of North American professional road cycling.”

The Univest Grand Prix Saturday race was one of six UCI races and one of 10 NRC road races in 2011. The Univest Grand Prix Doylestown Criterium was not ranked and held solely to showcase the Doylestown community, a newer market area for Univest when the event expanded there in 2004. The event quickly became a spectator favorite being held on a short, 1.4-mile circuit course, surrounding the popular Doylestown Arts Festival.

Just like the professional event set the stage for future races, the Univest Grand Prix was also a leader in establishing an equally embraced event for the recreational rider, the Cyclosportif 100K, which gave weekend warriors the opportunity to ride the same course as the pro athletes. This concept and innovation in promotion was nearly a decade ahead of the current Gran Fondo popularity popping up in conjunction with races across the globe today.

“The cycling world is no doubt losing one of the best events in North America, but there is a strong sense of pride in what we built by working so well together,” added Eustice. “Univest, Leidy’s, Bergey’s, Fox Rothschild, Detweiler Hershey, Moyer’s and several other businesses have been tremendous partners in making the event possible each year. It has been a pleasure for me to come back to my roots in Pennsylvania, where my passion for cycling started, and work with people who truly care about giving back and making a difference.”

Univest Corporation said it is excited about the impact their new “Committed to Local” effort will have throughout the region. While it has not yet allocated the $100,000, Univest is in the process of evaluating the needs of several nonprofits locally.

“On behalf of everyone at Univest, we want to thank John Eustice for his passion and strong work ethic for producing one of the finest events in our region, the community for embracing it, the media for covering it and our partners for making it possible,” said Aichele. “We believe it did just what our past chairman Merrill Moyer wanted – unite our surrounding communities – and now, we’re ready to move forward with a new vision and endeavor to invest in the future success of the communities we serve.”