Just Breathe

By Greg Johnson, Los Angeles Times Staff Writer
February 12, 2008

Operator Chris Devine says no deal has been reached despite talk involving equity firm that has bought related businesses. Many see room for improvement no matter who owns event, to be run March 2. As the 23rd running of the Los Angeles Marathon approaches, the race remains something of a mixed bag.

It is popular with Southern Californians but is ignored by many top marathoners who prefer events in London, New York and Boston, and viewed with suspicion by sports agents who have had trouble collecting appearance fees from current race operator Chris Devine.

Now the marathon that founder William Burke sold to Devine four years ago for $15 million reportedly is on the block again. A national sports business publication reported last month that Chicago-based Devine Racing is in talks with a private equity firm that recently acquired four cycling, marathon and triathlon businesses and is on the prowl for more race-related companies.

David Moross, chairman of Falconhead Capital LLC, a New York investment firm, declined to comment on the reported discussions with Devine — but did state that more deals will occur: “All I can tell you is to stay tuned.”

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