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BUTTE, Mont. (AP) — Organizers in Butte have canceled this summer’s Evel Knievel Days festival due to a lack of funding.

Organizers announced the cancellation on Monday. KTVM-TV reports organizers of the event that celebrates the city’s famous motorcycle daredevil were only able to come up with a fraction of the needed sponsorship money.

They said asking Butte businesses to shoulder the costs of multiple events within a few weeks of each other is unfair and unsustainable.

Butte holds a Freedom Festival July 3-4 and the Montana Folk Festival July 13-15. Knievel Days were scheduled for July 26-28 and the Irish festival An Ri Rah is set for Aug. 10-12.

Knievel Days had been held for 16 years.

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Information from: KTVM-TV, http://www.ktvm.com