Frontier Adventure Racing: Pack Lightly, Go Like Hell, Never Give Up

Frontier Adventure Racing is a relatively young company that is facing some significant financial issues. The company president, owner and organizer of Canada's most well-recognized series of adventure races ("Raid the North"), is passionate and knowledgeable about the sport of adventure racing. Also, as the captain of Canada's top adventure racing team, his profile has loaned credibility to his own company and has heightened media coverage of its races. The company has great products, a solid international reputation among adventure racers and good name recognition in the field. Even so, the company is up against some serious financial hurdles, having made little or no profit four years in a row. The Sports Network and The Outdoor Life Network have offered two hours of television coverage for the company's next race and half of the ad spots during the show if Frontier Adventure Racing is willing to pay the production costs. This kind of coverage would boost the company's visibility, but where could the company come up with the funding? Already faced with the problem of finding new sponsors, a bill for sponsorship, and a need for TV production costs over and above the normal cash requirements, the president knows the situation is difficult at best, and wonders what possible options are available to him.