"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."
"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."
Frank McCourt's Los Angeles Marathon is requesting a contract restructuring to eliminate $442,840 in outstanding royalty payments owed to the city. City executives have recommended denying this request. The marathon operator pays annual fees for city services, with royalty payments triggered when revenues exceed $3.87 million. The foundation aims to raise this threshold and adjust it for inflation, allowing deductions for certain revenues to manage the costs of hosting the marathon. The current contract is set to expire in 2029.
Read at Los Angeles Times
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