Frank McCourts L.A. Marathon to city: Can you save us half a million dollars?
This is read by an automated voice.Please report any issues or inconsistencies here.
The names “Los Angeles Marathon” and “L.A.Marathon” are owned by the city of Los Angeles.
In order to use those names, the marathon operator pays royalties to the city.The operator — the foundation of former Dodgers owner Frank McCourt — has asked the city to restructure the contract between the parties and, in so doing, forgo what the city lists as $442,840 in outstanding royalty payments.Two top city executives have recommended the City Council deny the request, according to a memo obtained by The Times.There is no date set for the City Council to decide whether to concur, or to direct the city executives to negotiate a resolution.The contract expires in 2029.The issue comes as another McCourt entity awaits a council vote — expected this fall — on whether to approve its proposed gondola from Union Station to Dodger Stadium.
Dodgers Despite eventually allowing protestors to voice their opposition to the Dodger Stadium gondola project, Metro certifies a revised environmental impact report.The foundation pays the city a fee every year to cover the cost of city services for the marathon, among them police, paramedics and traffic management.The royalty fee is separate.Since 2004, according to city records, a royalty payment is triggered in any year the marathon’s total revenues exceed $3.87 million.
The amount of the payment can vary from year to year.The foundation wants to increase the trigger amount, meaning the marathon could generate more revenue without owing any royalty payments.The foundation also wants to adjust that trigger amount annually for inflation and allow deductions of certain revenues, all to reflect the escalating costs of staging a world-class marathon, spokeswoman Meg Treat said.“Our goal is to modernize the calculation,” she said.
“Using benchmarks created over 20 years ago, the existing calculation is antiquated.”In their memo to ...