First of all, no one is making money off these events. The best example of making money that I’ve seen is on the charity event side. Some races are raising enormous amounts of money for worthy causes. When it comes to for-profit companies trying to make money, it’s a tough proposition. Until they can charge the same fees as large triathlons and Ironman competitions, it’s not going to happen. And if it does happen, they’ll be cutting off access and the sport will not grow.
The Cape2Cape dropped their purse after having less than projected participants. BUT, they are still having the event. And it’s an AMAZING event. That crossing is tough as nails and that’s in a boat with an engine. They didn’t cancel the event. It’s for pride and bragging rights to say they paddled it. I’m stoked for them and hope anyone who can support them, will. Get there. Here’s their announcement:
From The Cape2Cape (Virginia) Race directors:
…Historically inaugural events been met with a wide array of challenges. These challenges range from smaller than expected registration numbers, to lack of sponsorship dollars, to simply being overzealous with the inception of the event.
The “Crossing” portion of the Cape2Cape (Virginia) is the crown jewel of our event as well as the largest expense. With that said, our registration and sponsorship dollars are not rolling in as originally intended. Although we have a handful of great sponsors and have secured permits etc, this is placing us in the awkward position of having to fulfill the purse and cover all of the expenses pertaining to this element of the event.
At this point 80% of our entries are local. As stated we have not received the amount of entries hoped for, but have lined up permits, chase boats etc and have made the decision to cancel the purse but still hold the Crossing as a braggers rights event! This has been a tough call to make, but we are confident that the bragging rights, the expenses that we are covering (chase boats, skis, etc) and the stoke to paddle this amazing course will outweigh the disappointment.
We understand that this is a very different type of race than many contestants signed up for and as such are happy to offer full refunds to contestants who have already registered but wish to pull out of the event (or re-register for one of the other races).
Again, we are very sorry that we have had to make this move but as one door closes another opens. We look forward to seeing everyone on the beach June 21st!