Economy dogs Iditarod budget

WASILLA — Faced with nearly $1 million in lost funding and sponsorships, the Iditarod Trail Committee is being forced to make budget cuts, including personnel and a $100,000 reduction in 2010 race prize money.

The cuts, announced this past weekend, are “another reflection of our economic times,” says a prepared statement from the committee. “During the past 12 months, the Iditarod Trail Committee has experienced a loss in funding of nearly $1 million.”

Those losses include losing a media partnership and a “significant” reduction in sponsorship of $485,000 in late 2008. That shortfall also resulted in a $300,000 reduction of prize money awarded to 2009 finishers.

“This past June, the Iditarod Trail Committee adopted an annual operating budget with cuts in spending of $319,000, most of which were in the form of personnel costs,” the announcement says. Another $200,000 has also since been slashed.

Another financial blow to the world’s most famous sled dog race came in the past month, the announcement says, when two more sponsorship deals and another media partnership were not renewed to the tune of $455,000.

“We are not immune from the economic turmoil that is impacting many of or partners,” said Stan Hooley, executive director of the committee. “I think there is the perception that we are on solid ground, but the truth is, at this moment in time we aren’t where we need to be.”

With less than 100 days until the 38th Iditarod Trail Sled Dog Race kicks off, “I’m optimistic that between now and then we will be able to welcome some new companies to our current family of dedicated sponsors,” Hooley said.

While the Iditarod committee is dealing with some financial struggles, the race is not in jeopardy, said Lee Larsen, ITC board president.

“One thing we know for sure is that excitement about the Iditarod remains at an all-time high and we will stage the world’s premier sled dog race in March,” Larsen said. “I look forward to the day that we can look back at this point in time and understand that these difficult times helped to galvanize our organization and the mushing community.”