This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
It makes you wonder how many more US host cities will act in the same way. Doubtful this will be only case, unfortunately.
At least the full is still up and running for next year. Though given how many people deferred their 2020 slot (and any social distancing measures likely reducing overall capacity), I wonder how hard it would be to register once it opens.
I wonder how hard it would be to register once it opens.
back to the good ol days!
At least the full is still up and running for next year. Though given how many people deferred their 2020 slot (and any social distancing measures likely reducing overall capacity), I wonder how hard it would be to register once it opens.
I said months ago that I thought Placid 2021 would be the first event actually go off in the near future but with the trajectory of everything right now I feel like that’s in question.
well, this is surprising for sure!
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
I guess if cities don’t know the up side of what revenue a future event brings to the town, coupled with the hassle, then any expense now is easy to cut
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
Since IM doesn’t refund individual entry fees when races are cancelled. Does anyone know if they return the 100k fee to the town when races don’t come off?
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
Since IM doesn’t refund individual entry fees when races are cancelled. Does anyone know if they return the 100k fee to the town when races don’t come off?
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The “Fees” paid to Ironman are generally not cash payments but “In kind” payments by way of waiving park rental fees,permit fees, Police fees,etc,etc,etc. It is not a cash payment so if there is no event then there are no “In kind” fees and nothing to pay back.
The “Fees” paid to Ironman are generally not cash payments but “In kind” payments by way of waiving park rental fees,permit fees, Police fees,etc,etc,etc. It is not a cash payment so if there is no event then there are no “In kind” fees and nothing to pay back.
As of a few years ago at least, this is false. The WTC contract with one IM host city (Couer d’Alene, I think) was shared in an open city council presentation and there was a six figure cash payment in addition to service commitments (police, parks, EMT, …) and hundreds of gratis hotel rooms. Times may have changed, but the deal then was definitely that the host city paid cash and provided significant services, and in return the host city received 8 figures of economic benefit, which turned out to something like $8000 per participant and thus dubious, but that was the proposition at least.
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
Since IM doesn’t refund individual entry fees when races are cancelled. Does anyone know if they return the 100k fee to the town when races don’t come off?
…
The “Fees” paid to Ironman are generally not cash payments but “In kind” payments by way of waiving park rental fees,permit fees, Police fees,etc,etc,etc. It is not a cash payment so if there is no event then there are no “In kind” fees and nothing to pay back.
That’s “generally” true, but without the actual agreement to review I can only go by what is stated in the article: “ROOST pays Ironman to host its events in Lake Placid each year, and it won’t be paying the $100,000 fee for the 70.3 next year.”
This sounds like a financial decision by the community. The recession is hitting city coffers hard and the $100K fee was likely an easy budget reduction.
Since IM doesn’t refund individual entry fees when races are cancelled. Does anyone know if they return the 100k fee to the town when races don’t come off?
Probably depends on why the race doesn’t come off. If the community won’t provide the permit, then it’s likely on them … which is why IM waits so long to postpone/cancel a race.
Remember when IM had a competition to choose venue for next 140.6 (Tulsa won over Memphis, Des Moines, and somewhere else)? I am pretty sure that was based on getting the best deal they could. Read: cash
I have the Haines City contract for 2012 - 2016.
Host Sponsorship Fee - $XXX,XXX per year. I will keep actual amount undisclosed, but yes, significant cash paymentBudget Relieving Services - Host Support Services and such other Event-related services that are provided by Host as requested by WTC in writing, including, without limitation, payment of Venue site fees, securing permits, rental vehicles, traffic control (police and equipment), EMS, tents, athlete and volunteer food, parking, staff housing, professional and medical services, and general labor;Non-Compete - Host agrees that, during the time periods that begin six weeks prior to each Event and ends six weeks after such Event’s race date during the term, and during the entire 24 month time period following the expiration or earlier termination of this Agreement, Host shall not produce, conduct, host, permit, or contract or partner with any person or entity except WTC regarding, any part of any triathlon event longer in distance than a sprint triathlon (as defined in the Race Distances Defined article under the domain www.usatriathlon.org) in the Venue.