BOISE -- A highly-publicized womens' cycling race held in Idaho has ground to a halt.

Citing financial problems, the Exergy Development Group announced Thursday that its signature tour would not be held in 2013.

That's after millions were spent to host the 2012 Exergy Tour in Boise.

See complete coverage of the 2012 tour here

The Exergy Tour offered the highest total winnings payout of any NorthAmerican womens' cycling event that year. Dozens of racers from NorthAmerica, Europe, and Asia made the trip to Idaho.

The five-day tour featured stops in Boise, Kuna, Nampa, Idaho City, and Crouch/Garden Valley.

Exergy Development Group was the sole sponsor of the event, and publicly struggled to repay its debts related to the race, most notably to the city of Boise.

However, that $27,500 bill was eventually paid.

Organizers had hoped other sponsors would contribute financially, and make the event possible in 2013.

The company hopes to bring back the event in 2014. The following is portion of a release to local media regarding the cancellation of the event:

We apologize about the delayed announcement and have made every attempt to make this event possible because we believe in women's cycling and the opportunities and exposure this race provides. The company remains determined to provide equal opportunities for women's professional cycling, and shall continue to support our team, Exergy TWENTY16. As stated in November, our company will maintain investment in the future through youth development and community engagement by fostering inspirational examples. Exergy remains unwavering in our commitment to recalibrate the sport of cycling and impact it globally. We are deeply saddened by our announcement.

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