The chances of the inaugural World Moto Clash event taking place on the scheduled date next month are “50-50” after the organization’s primary investor failed to meet a key financial deadline, founder and Chief Executive Officer Stanford W. Crane Jr. told Roadracing World on Wednesday.

“It’s 50-50. We’re meeting with two (potential investor) groups over the next couple of days,” Crane said in a telephone interview.

Crane said that the primary investor for the race, which promised a $1 million prize to the winner and an overall purse of $2.86 million, did not provide the funding on the agreed-upon date. Instead, the investor made a counteroffer which would not allow WMC to meet its goals, Crane said.

Crane said that WMC is meeting with two other potential investors with experience in motorsports to secure funding for the event, which is scheduled for Mid-Ohio Sports Car Course on Sept. 18-20.

In an inverview with Roadracing World published on April 29, Crane said the purse money for the original event, slated for July 10-12 at Utah Motorsports Campus, would be in escrow 30 days before the event. That date was changed because it conflicted with the MotoAmerica round at WeatherTech Raceway Laguna Seca, and the Mid-Ohio race was slated to be the kickoff event.

The WMC concept, which was originally made public nearly two decades ago, centered around the idea of a massive purse, reality show-type television content and unlimited machine regulations which promised motorcycles faster than MotoGP racebikes. But to date, no entries have been announced and no professional racing teams have announced plans to participate.