Competitor Group Closing San Diego HQ
The San Diego headquarters of Competitor Group, Inc. is closing and will undertake as many as 145 layoffs as the company that owns the Rock n’ Roll Marathon is restructuring itself following its acquisition by Ironman. The Competitor Group layoffs herald what may be a new era for the race as the company looks to fold it into its other endurance sporting events.
The Competitor Group holdings are also being gathered under Dalian Wanda, a Chinese real estate conglomerate that bought up Ironman in 2015 and has worked to combine the sports organizations under a single umbrella.
The closing of the San Diego office, while bringing about layoffs, also marks the end of an era for the Rock N’ Roll Marathon. The race began in 1998 in San Diego and has since gone on to be featured in 22 U.S. cities and eight countries. Competitor Group purchased the race about 10 years ago, employing the very same people who started the race in the first place. That all may change, however, as the Ironman purchase is looking to shift the headquarters to Florida.
“The City of San Diego will continue to play a strategic role in the company’s regional structure with a local office supporting the company’s events in the southwest,” Ironman said in a statement. “Tampa, Florida will serve as the Global Headquarters housing all core business functions for IRONMAN and the family of brands, including the Rock ‘n’ Roll Marathon Series.”
Ironman is hoping that the move will help the company cut expenses due to the lower business taxes in Florida and the lack of a personal income tax.
Competitor Group operates more than 30 running events, including the Rock N’ Roll Marathon series, registering more than 600,000 athletes each year. Ironman, on the other hand, operates more than 200 events in 50 countries and brings in another 400,000 athletes. The Ironman triathlon in Hawaii was the company’s first event in 1978.
Ironman Acquires CGI’s Holdings
The Ironman acquisition will serve to make the company the largest purveyor of one of the largest sets of sports endurance events in the world. With Dalian Wanda’s purchases of late, the company seems focused on becoming a major player in the sporting event world.
The layoffs in San Diego are a finish line for the Rock N’ Roll Marathon, as it was before the acquisition, and the starting point of its new venture as part of the Dalian Wanda family.
“Company that owns Rock and Roll marathon could move to Florida,” ABC 10 News, August 11, 2017.
“Ironman buys Competitor Group Holdings,” Bicycle Retailer, June 2, 2017.