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CHICAGO, Nov. 5 (UPI) -- A new report says North American companies will spend more than $86 million this year on sponsorships for marathons, 10Ks and other running events.
The Chicago research and consulting firm IEG said Thursday that the figures represent an 2.5-percent increase from the $84 million spent last year by corporations.
The report's editor, William Chipps, said running events, including triathlons, attract an audience that appeals to many companies.
"Corporate marketers continue to be enthralled by endurance sports' affluent participant base," Chipps said in a written statement.
IEG said the increase was partly the result of the emergence this year of Competitor Group Inc., which was formed in New York by the private equity group Falconhead Capital and bought up Triathlete Magazine, the Rock-and-Roll Marathon series and other endurance-sports companies.
CGI offered new marketing packages that appealed to major advertisers and brought in new sponsors for the New York Marathon, in particular.
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