The economy is taking a toll on many things – including the Iditarod. For the past 37 years, the challenging race has been run across Alaska. This year, however the race is facing financial troubles.
Its last remaining broadcast deal was not renewed, part of a $1 million decline in revenue as sponsors have also dropped out.
Accordingly, the prize purse shrank, and salaries and benefits for the race’s employees were reduced, said Stan Hooley, the race’s executive director.
In the New York Times article about the Iditarod’s financial plight (http://www.nytimes.com/2010/02/02/sports/02iditarod.html?em) four-time champion Jeff King is discussed. He donated $50,000 of his own money to the purse for the race. Explaining his motivation for such generosity:
“I’m not a rich man by any means,” King said. “But I think I’m one of the few people in the history of the race who has made more than they have spent racing, and I’m willing to give it back.”
King has made peace with the possibility that his rivals might go home with his money.
“I want them to continue to pay their bills,” he said, “so I can continue racing against them.”
It really is unfortunate to see these hard economic times affect such a large number of people and events, including the Iditarod. Especially since the Iditarod has so much tradition and is well known. A
ReplyDeleteI agree that it's a shame that the Iditarod is taking a hit from the economic crisis. It is an important part of our national traditions. I'd suggest that the government do something to help keep the costs down, but seeing as the government is already spending a lot of money due to the economy, I suppose that wouldn't be the best idea.
ReplyDeleteJeff sounds like a pretty generous guy who truly does love his sport. Even though the Iditarod is an incredible tradition, I think it needs to be funded by private means, not public ones.
ReplyDeleteI'm impressed by King's donation to the race. It makes sense his point about giving back what he has earned from it since this is his passion. I do think it's odd that this is such a well-known and respected race and the sponsors no longer want to support it. It seems as though the race would still be a good way of advertising for their company. I completely disagree with Waytes. There is no reason for the government to help with this race in any way. It does not benefit the U.S. public and it is for pleasure, not necessity.
ReplyDeleteI think we need more people like Jeff King in the world. What a nice guy to donate that much money toward the race. That just shows how much passion that man has in the race, his dogs, and the tradition. Maybe one day the Iditarod will become more publicized and get more attention in the world of sports. When that happens there will be more sponsors and a bigger market for the race. (A)
ReplyDeleteIt's disappointing that the Iditarod has suffered so much from the economic hardships we all face. I understand why the sponsors have been dropping out though, since dog sled racing isn't the most popular sport in the world. However, it is nice to know that people like Jeff King are trying to keep the tradition alive and well. A
ReplyDeleteThis makes you wonder what other kind of sporting events way be on their way out. Luckily Jeff King was generous enough to fund the Iditarod, but I believe that the event is going to have to get more publicity and attention if it wants to survive. Another sporting event that many are familiar with is the Motor City Bowl. This was a college football bowl game that the city of Detroit has hosted for years. This past year, because of the troubles with the automotive industry, the bowl game was unable to get enough funds from the Big 3 to continue. Luckily Mike Ilitch, owner of the Red Wings and Tigers, decided to fund the bowl game as long as it was called the Little Caesar's Bowl, because he is the owner of the pizza chain. So generosity has helped to save both the Iditarod and a bowl game in Detroit, but in these tough times, I don't think generosity is going to be there for other struggling sporting events. (A, F)
ReplyDeleteI think what Jeff King did is pretty cool. The Iditarod is a classic and is a recognized race worldwide. It is too bad that there is not more help to keep this race alive. As funny as it may seem, when the US Speed Skating team need a sponsor, Steven Colbert stepped in and saved them. Maybe the Iditarod should seek a sponsor like that or a general fund to keep it alive.
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