ABC Sports was unwilling to pay the price Evel Knievel wanted for the Snake River Canyon jump, so he hired Bob Arum company "Top Rank Productions", to put the event on closed-circuit television and broadcast to movie theaters. Investors in the event took a substantial loss, including promoter Don E. Branker, as well as Vince McMahon, Jr., who declared personal bankruptcy a few years later before taking over and expanding his father's World Wrestling Federation. Knievel hired aeronautical engineer Doug Malewicki to build him a rocket-powered cycle to jump across the Snake River, and called the X-1 Skycycle. Malwecki's creation was powered by a steam engine built by former Aerojet engineer Robert Truax. On April 15, 1972, the X-1 was launched to test the feasibility of the launching ramp. The decision was then made to have Truax build the Skycycle X-2 and have it take off and fly more like a rocket than a motorcycle.
West of Shoshone Falls, the launch at the south rim of the Snake River Canyon (42.597°N 114.423°W) was on Sunday, September 8, 1974, at 3:36 p.m. MDT. The steam that powered the engine was superheated to a temperature of 500 °F (260 °C). The drogue parachute prematurely deployed as the Skycycle left the launching rail and induced significant drag. Even though the craft made it all the way across the canyon to the north rim, the prevailing northwest winds caused it to drift back into the canyon. By the time it hit the bottom of the canyon, it landed only a few feet from the water on the same side of the canyon from which it had been launched. If he had landed in the water, Knievel likely would have drowned, due to a jumpsuit/harness malfunction which kept him strapped in the vehicle. He survived the jump with only minor injuries. The jump occurred the same day that President Gerald Ford pardoned Richard Nixon.
Knievel's son Robbie announced in 2010 that he hoped to recreate the Snake River Canyon jump, yet no jump has been officially planned. However, in September 2013, stuntman Big Ed Beckley received the rights from the Idaho Department of Lands to reproduce Knievel's Snake River Jump by for a price of $943,000 to jump the canyon on the 40th anniversary of the attempt. Beckley is scheduling the jump for September 7, 2014 (one day before the 40th anniversary of Knievel's attempt).
Source: Wikipedia (I modified it slightly)
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