N.Y. Triathlon Sold To Life Time Fitness, With Management Staff Staying In Place
Aquaphor N.Y. Triathlon Organizer John Korff yesterday "finalized the sale" of the event to Minneapolis-based chain Life Time Fitness, according to Frederick Dreier of the WALL STREET JOURNAL. Details of the transaction were not disclosed. Life Time Fitness VP/Corporate Communications & PR Jason Thunstrom said that Korff's management staff "would continue to organize the race, and that the race would likely take on the parent company's name." Dreier notes the race since its '01 launch "has become one of the largest triathlons" in the U.S., and in '10 "sold out its 5,600 spots in six minutes, prompting organizers to launch a lottery-style registration." Life Time Fitness has 11 "other triathlons around the country," and is "among the major players in the American triathlon market, alongside the World Triathlon Corporation." Thunstrom said, "We saw [the N.Y. event] as a missing piece of our puzzle. It's a destination race." Korff said that he sold to Life Time "because it is willing to invest in the race's rising infrastructure costs" (WALL STREET JOURNAL, 8/6).