Penticton Triathlon Race Society thanked

The City of Penticton thanks the Penticton Triathlon Race Society Board of Directors for their service.

A final overview of the 2014 race was submitted to the City of Penticton, indicating the race finished under budget and improved on the previous year’s results by $150,000. With its obligations met, the Penticton Triathlon Race Society has now dissolved.

“We want to thank the Penticton Triathlon Race Society for their tireless efforts in organizing one of the region’s premier destination sporting events for over two years. They have committed a great deal of time and energy as volunteers, all to benefit the community,” said Penticton Mayor Andrew Jakubeit. “The Society has delivered on their promise to hold a world-class event and even improved on their results. We are grateful for their efforts.”

The new owners-operators of Challenge Penticton are already in full swing for 2015, and are committed to a guaranteed five-year debt repayment plan of $300,000. The City invested $377,022 for the first year, and $232,518 for the second year of the race. With the debt repayment plan, the outstanding investment is $309,540 for two years of races.

“When the decision was made in 2012, Council understood it would take investment over a few years to ensure long-term success of our race. It is important to remember City would have been paying for the other brand as well – $120,000 plus incremental fees,” said Mayor Jakubeit. “This transition has been a big shift, but one that is best for our community over the long term. We’re confident that a solid foundation has been built and that our long-distance race will continue to grow into the premier triathlon event in Canada.”