The entrepreneurship of mega-sporting events: an analysis of the 2006 IAU World Cup

In October 2006, Misari, South Korea, takes the world stage in athletics, hosting the International Association of Ultrarunners (IAU) 100km World Cup [hereinafter IAU World Cup]. The IAU World Cup is the leading global ultrarunning championship and is sanctioned by the International Association of Athletics Federations (IAAF), the international governing body for the sport of athletics, and is expected to attract over 300 athletes and managers from 40 countries and another 10,000 local runners, spectators and volunteers are expected to participate. Ultrarunning, also termed 'ultradistance' or 'ultramarathoning,' describes any event longer than the traditional 42.2 kilometers marathon distance, and is one of the fastest growing sports in the world, particularly in Asia. Each year, over 100,000 people around the world complete an ultramarathon, including an estimated 2,000 in South Korea's twenty ultramarathons. The IAU World Cup is an example of a truly entrepreneurial endeavor in the Asian sports industry. As yet, however, there has been little research on ultrarunning (outside kinesiology journals), and entrepreneurship in the sports industry, particularly in Asian environments. This article proceeds as follows. First, the context of Korea, mega-sporting events and ultrarunning is reviewed. A theoretical framework for new venture development, based on entrepreneurial behaviour, opportunity recognition and resource accumulation is put forward. Based on a longitudinal case study and interviews with key IAU World Cup organizers and stakeholders and observation at the World Cup, this paper details the entrepreneurial development and professionalism of ultrarunning in Korea, culminating with the 2006 hosting of the IAU World Cup. We conclude with implications for the future of mega-sporting events in Asia and future research directions.