TransCanada Corp., the company pursuing construction of a natural gas pipeline from the North Slope, increased its sponsorship of the Yukon Quest International Sled Dog Race, saying it will donate at least $25,000 to this year's event.
TransCanada, an energy company that has been a race sponsor since 2007, is the 1,000-mile race's only major sponsor. The race follows a trail that connects Fairbanks and Whitehorse.
Quest officials said the sponsorship means the race can guarantee a purse of at least $150,000, which is still short of the planned $200,000. Organizers hope to bridge the gap through fundraising and sponsorships.
"This is a significant development for the Yukon Quest," Stephen Reynolds, the organization's executive director in the Yukon, said in a news release. "Like many events who rely on sponsorship, the recent economic situation is having an impact on our partners, and TransCanada's decision to substantially increase their support strengthens our organization and the race itself."
On its Web site, the Quest lists more than 130 sponsors, but only contributions of $25,000 or more qualify as major sponsorships.
"We are proud to take on a more significant role with this renowned event," TransCanada spokesman Peter Kruselnicki said.
The race begins Feb. 14 in Whitehorse and will end about two weeks later in Fairbanks. Thirty-five teams are entered.
TransCanada is headquartered in Calgary, Alberta, and has about 3,850 employees. The Alaska Legislature approved a license for the company that comes with up to $500 million in seed money.
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