Michael Brown has informed the City of Penticton that he intends to cancel his arrangement with the Challenge Family and has requested the city amend the existing agreement to change the brand.
Brown, along with then-partner Kevin Cutjar, purchased the licence from the City of Penticton in 2014, agreeing to host the long distance triathlon from 2015 to 2019 and pay the city $60,000 annually for a total purchase price of $300,000. In 2013, the first year of Challenge Penticton, the city lost $377,032.
According to the staff report, Brown says he is committed to delivering an August triathlon event that will draw between 900 to 1,500 participants for the remaining two years of the agreement.
Related: Businessmen up to the Challenge
City Council will be discussing the addition at their regular council meeting, starting at 1 p.m. on Sept. 19.