I have been to Sturgis during the rally and it is unreal how many people turn out for it. If the city "leaders" of Sturgis can't figure out a way to make it profitable then they need to be slapped.
I briefly spoke with someone today about this that is currently working on finding an alternate location. That's really all I know, I'll share what I find out if/when I find anything else out. But hope is not lost yet!