One of the long standing traditions in Northeast Ohio is facing tumultuous as they bleed more and more money. Jim Hunstsman, the CEO for the 75 year old Soap Box Derby, was candid in a USA Today story this morning saying "We're in trouble".

The Soap Box Derby has not had a sponsorship deal in the last two years and needs about $250,000 to stay afloat. The Akron based group says that are hoping to lure green companies to sponsor the event in the coming years.

The USA Today story reads:

The derby is in the red after decades of making money. It has lost money three out of the past five years. It recently lost its line of credit, and the group is "living hand to mouth," Huntsman says.