Frank McCourt, the owner or the Dodgers, has just completed the purchase of the Los Angeles Marathon, according to the Los Angeles Times.
The race date will be moved from the first Sunday in March to the Monday President's Day holiday in February.
"The transaction closed this morning, the wire transfers have occurred and, in terms of the [city-owned] intellectual property, we have taken control of that.
We want the entire running community to be participating in this marathon." It will take the new race operating company a bit of time to sort out race details, including issues created by the new race date, McCourt spokesman Howard Sunkin said.
The Los Angeles Times goes on to report that:
"Financial terms of the transaction were not released, but McCourt's
newly created Going The Distance operating company has begun the
process of taking over registration and race preparations for the
upcoming marathon.
Negotiations with Chicago-based Devine Racing Management were completed
a week after the City Council approved a new contract with McCourt's
company that calls for the race date to be shifted from the first
Sunday in March to the Monday President's Day holiday in February.
McCourt's company also will be required to reimburse the city for
police, sanitation and other race-related costs.
Though McCourt is providing the financial backing, Going the Distance
will be overseen by Los Angeles businessmen Russ Pillar and David
Kingsdale."
You can read more about this breaking story HERE.