The race had existed since 1985, but its name changed a number of times, because of the changing of names of its corporate sponsors, due to bank mergers and acquisitions. The title sponsor was originally CoreStates Bank, followed by First Union Bank in 1998, then Wachovia Bank in 2002. In November 2005, Wachovia withdrew its sponsorship. With assistance from former Philadelphia mayor and then-Pennsylvania governor Ed Rendell, a corporate sponsor was found in 2006; Commerce Bank made a four-year commitment. Due to its acquisition by Toronto-Dominion Bank in 2007, Commerce Bank became TD Bank in 2008.