The Bank of Butterfield's sponsorship of the International Race Weekend is in serious jeopardy, The Royal Gazette has learned.

The Bank have been title sponsors of the event since 1997, two years after ADT withdrew their sponsorship. But with the Bank of Butterfield's three-year agreement now having expired, sources have indicated it is unlikely to be renewed.

That would also threaten the future of the popular Bank of Butterfield Mile, which was the Bank's first involvement in Race Weekend a decade ago.

Judith Simmons, president of the Bermuda Track and Field Association, is in Puerto Rico with the Junior CAC team and was yesterday unavailable for comment. Bank officials would also not comment. Calum Johnston, Chief Executive Officer of the Bank of Butterfield, is also off the Island. Race Committee chairman Philip Guishard could also not be reached yesterday.

The BTFA and Bank of Butterfield have apparantly been discussing a possible new deal for several months but have not reached an agreement after both parties put their terms and conditions on the table.

The initial three-year deal was worth $195,000, though it is understood the Bank put up thousands more each year to help promote the event.

That, combined with seven prior years' sponsorship of the Bank of Butterfield mile, would take the Bank's total contribution to Race Weekend in excess of $500,000.

The Mile began in 1989 as the Invitational Front Street Mile, with the Bank of Butterfield coming on board the following year because of a "desire to get involved in the community''.

Throughout the 1990s the Bank of Butterfield Mile has grown tremendously in popularity with thousands of locals lining both sides of Front Street to watch local and overseas runners compete.

The Bank offered $10,000 for the person breaking the four-minute mile barrier, which was never achieved, while thousands more were also offered for other records.

Runners consider the course a tough one on which to achieve a fast time and any chance of the four-minute barrier being broken last year disappeared with a downpour during the race which left Front Street looking like a stream.

Race weekend, held in January, has involved the mile on the Friday night, which was followed by the 10k on Saturday morning and half-marathon and full marathon races on the Sunday.

Popular race: American Karl Paranya wins this year's rain-hit Front Street Mile, but whether the finishing tape will again sport the name of the Bank of Butterfield next year is in doubt.