The Lincoln Grand Prix, dating back to 1956, has been saved by new sponsors Rapha, as it was set to be cancelled for the first time in its 64-year history.
In January, organisers announced the race might not go ahead, as main sponsors Chestnut Homes pulled out, citing uncertainties over Brexit as the reason.
However, cycle apparel brand Rapha agreed a two-year sponsorship, with the event officially being renamed the Rapha Lincoln Grand Prix.
Two-years ago, Rapha commissioned the Rapha Roadmap, to explore the challenges facing modern professional road racing, and to help ensure the Lincoln Grand Prix became more sustainable.
In a statement, Rapha said: “For the next two years, Rapha will be the title sponsor of the Lincoln Grand Prix, but our sponsorship is just the start.
“Using this race as a case study, we will investigate, in practical terms, just how you secure a sustainable financial future for a bike race.
“The Lincoln Grand Prix is our local race but the lessons we will learn by supporting it are ones we hope will be applicable to any race.”
The historic race sees some of the UK’s best cyclists competing, with past participants including Olympic, World Championship and Tour de France champion Sir Bradley Wiggins.
Pete Kennaugh, 2013 & 2015 Men’s Race winner said: “For me, the Lincoln Grand Prix is the one race that carries the history and prestige that makes every rider on the start line hungry to win.”
Dan Ellmore, Lincoln Grand Prix race organiser since 2015, said: “The Lincoln Grand Prix team are excited to be working with Rapha for the 2020 and 2021 events and to help develop a more sustainable approach to the race to ensure we can continue adding to the history of the event for many years to come.”