If you live in Philadelphia, it's likely that you have a love-hate relationship with the Philadelphia Bike Race.

 

For the past 28 years, thousands of cyclists from around the world have descended on city streets on a Sunday in June to compete in the Philadelphia International Cycling Championship.

For city retailers and restaurants, it means big business and exposure but for many residents, it amounts to a weekend of road detours, parking headaches and rowdy crowds on neighborhood streets. 

In a surprise announcement made last night, the Pro Cycling Tour canceled the 2013 race with intentions of bringing it back to the city in 2014. 

"We are disappointed that we must remove the race from the calendar in 2013, but we feel like we will be able to reorganize with new partners and make this the preeminent event the region deserves in 2014 and beyond," said event founder David Chauner.

The announcement came as a surprise to Jane Lipton, executive director of the Manayunk Development Corporation. 

"We were given no inkling ... and we're understandably stunned and saddened by their unilateral decision. I'm sorry we were not brought into the conversation earlier."

What do you think of the news? Are you surprised? Disappointed? Relieved? Share your thoughts in the comment section below.