Challenge Family has confirmed the termination of its contract with YWC Sports and the Challenge Copenhagen and Challenge Aarhus races, effective immediately.
According to Challenge, the sale by the directors of YWC to Ironman brand owner World Triathlon Corp (WTC) is understood to put them in breach of a contract that still had two more editions of each race to run.
Ironman’s main rival in the global long distance tri racing calendar notes that the recent purchase by WTC marks the second time where Ironman has bought companies contracted to Challenge Family with a current agreement in place.
(WTC’s purchase of YWC Sports and the Challenge Copenhagen portfolio comes just over a year after WTC’s acquisition of USM Events in Australia in February 2012. USM Events is one of Australia’s leading event management companies and the owner of iconic premier multisport festivals at Noosa, Cairns, Mooloolaba and Geelong. Following last February’s deal, WTC added Ironman Cairns to its 2012 line-up.)
“Challenge Copenhagen is a race we were proud of. It changed the face of triathlon in Denmark, growing an industry that was previously very limited,” said Challenge Family CEO, Felix Walchshöfer.
“We are of course disappointed by the behaviour of both parties in this transaction. We are also disappointed for our athletes who made the former Challenge Copenhagen the success it is and entered a Challenge race in August but are now faced with a very different reality. We are extremely sorry for them to terminate the contract but the alternative is untenable.”
Walchshöfer went on to say that the family-owned Challenge Family would not let recent events in Denmark deter future plans…
“Our focus is on putting everything back into our races, we have made a commitment to operate in the best interests of the sport and our athletes, to respect its legacy and to honour the athlete’s achievements. We build our races ourselves based on these values.
“We will continue to work hard to introduce new races around the world that give long distance triathletes the choice they deserve and avoid an unhealthy monopoly in the sport.”
This statement from Challenge Family ‘is supported by the imminent announcement of new Challenge Family races this week.’ Full details will be announced on Friday 5 July.
