AEG Sells Bay Race

Bay To Breakers, which has taken place on the third Sunday of May since 1912, is not only known for hosting world-class competitors, but plenty of runners dressed up in costumes or wearing nothing at all. Wasserman Media Group CEO Casey Wasserman said the popularity of the 12-kilometer race has been dwindling and the company expects to reverse that trend. In 2011 the race drew 50,000 participants and about twice as many spectators, according to the San Francisco Chronicle.

It also drew complaints from locals because the event included trash, public urination and public intoxication.

“While we weren’t actively pursuing a buyer, after meeting with Casey and his team, we were convinced that their passion for events as special as the Bay to Breakers along with the investment they are prepared to make and the platform they have to showcase this historic event makes them the ideal ownership group to raise the bar even higher for the Bay to Breakers,” AEG President Dan Beckerman said.

AEG bought the race in 2004. Philip Anschutz, a soccer and biking enthusiast, is known for buying entities associated with his passions, such as soccer teams like the Los Angeles Galaxy and the Amgen Tour of California.