The licensing agreement between the Challenge Family and the City of Penticton has been signed.
According to the Penticton Western News, the city is working on a separate deal with the Penticton Triathlon Race Society to assign the licence to them, as they will actually operate the event.
Some items of the licensing agreement include:
- Challenge Penticton will “make a particular effort to invite renowned athletes” to enter the race, who may “enhance the publicity and significance” of the event. Local organizers will pay their “reasonable costs,” plus expenses like accommodations and food.
- A $75,000 prize purse will be provided for the top 10 men and women racers, with prizes ranging from $12,000 for first place to $500 for 10th place.
- The licensee keeps all sponsorship revenue it secures itself, and must organize an expo near the venue where “dealers of sports articles, regional companies and shop owners” can sell their wares.
- The agreement runs for five years, with the option to renew for an identical term. A half-distance race could be added if both parties agree.
Read the full story at: Contract reveals details for Challenge Penticton
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