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PENN RELAYS HOLD OUT BATON FOR NEW SPONSORS
Published December 9, 1994
Tim Baker, Dir of the Penn Relays, announced Wednesday that Midlantic Bank had committed to a 3-year deal, beginning in '95 with a 3-year option, to sponsor the Relays. This comes after entertainer Bill Cosby finished his five-year commitment to the games, which "pumped a total or more than $750,000 into the carnival." Gerry Scheuring, Chair/President/CEO of Midlantic, said the 3-year pact was worth "in the neighborhood" of $500,000. Baker: "It will enable us to retain our position as the largest relay carnival in the world and provide opportunities for more than 15,000 athletes." Without the money, the event would have had to "scale back to more of a regional meet, unless ticket prices or entry fees were sharply increased" (Joe Juliano, PHILADELPHIA INQUIRER, 12/9).