The annual bicycle race in Philadelphia has a new title sponsor and at least a two-year lease on life. 

It will now be called the Parx Casino Philly Cycling Classic.  In addition to the new name there will be a new route.  Race organizer Richard Adler says the goal is to make things as exciting for the spectators as it is for the riders.

"We think that's going to change it up a little bit," said Adler.  "We're going to feature some neighborhoods, obviously Manayunk historically has been an important neighborhood for cycling in Philadelphia but we are going to expand that a little bit."

Parx is spending $500,000 over two years on the race, with a $250,000 option for year three.

Jane Lipton of the Manayunk Development Corporation is thrilled riders will once again bike up the street nicknamed "The Wall."

"Two weeks ago, give or take, we got some news that was very disturbing," said Lipton.  "We immediately had a press Q and A and said to the Philadelphia universe we need help that this thing can't die, this thing can't stop and help came in that was unbelievable."

That help came from Congressman Bob Brady who recruited Parx Casino as the title sponsor and several other financial supporters for the race.