Alaska's race, the Iditarod, is strapped for cash

The Iditarod Trail Committee today announced a funding shortfall of nearly $1 million, forcing organizers to once again slice the purse of the 1,000-mile sled-dog race to Nome.

Since June, when the committee approved its annual budget, cuts of more than a half-million dollars have been made, according to a press release. Most of the cuts have been in personnel and changes to the race's "Iditarod Insider" video subscription service that offers an array of videos and musher interviews from along the trail from Willow to Nome.

In a written statement, the Iditarod said $319,000 was cut from its budget in June, and another $200,000 recently due to the loss of a media partnership and "modifications" to its subscription video service.

Those financial problems accelerated in the last month, according to Iditarod executive director Stan Hooley, with the loss of another $455,000 after two more sponsors dropped out and another media partnership dissolved.

As a result, the purse for the 2010 race will be cut by $100,000, Iditarod executive director Stan Hooley said on Monday.

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