Plymouth Meeting's New Penn Financial to Sponsor Philly Bake Race

The June Philly Cycling Classic, which will replace The Philadelphia International Cycling Championship, has a local sponsor.

New Penn Financial, headquartered in Plymouth Meeting, accounted in early February its sponsorship of the new race, according to MarketWatch.

"New Penn, headquartered in Plymouth Meeting, Pennsylvania, is the first to commit to financial sponsorship. The company offered its support when new organizers, led by Congressman Robert A. Brady, took action to establish a race to replace the annual Philadelphia International Cycling Championship, which was cancelled in January."

Parx Casino has also signed a two-year deal, according to Philadelphia Business Journal, to be the title sponsor of the race.

According to Philly.com, the new race will be shorter and faster than the Philadelphia International Cycling Championship race. The Manayunk Wall portion of the International race will be "preserved" in the Classic.