In five years, the Yukon Quest’s purse will have risen to $200,000.

That’s the dream of current Yukon board president Michael Peterson.

Peterson, 63, shared his vision for the 1,600-km international sled dog race Friday night at a public meeting at the White Pass Building.

An upgraded race purse is not “unrealistic,” he assured race fans. The current purse sits at $127,000 US.

About 30 people attended the meeting, which coincided with the race’s fall joint board planning session.

Members of the Alaskan board made the drive from Fairbanks for the weekend logistics session.

Besides a larger purse and financial sustainability, the current board’s vision also includes getting 35 mushers to the race’s start line within the next five years, and having at least 25 finish the trek.

Another goal is to have five mushers from outside the Yukon and Alaska in the race – a feat that could be fulfilled as early as this season.

The race’s two high-profile weeks in early February each year never truly reflect the many hours of work put in by volunteers and staff, Peterson said.

“It’s a huge collaborative effort on both sides of the border,” he said.

Last year wasn’t a typical year in terms of numbers, said Peterson, a resident of Victoria, B.C.

Just 18 mushers hit the start line in 2014 – a record low. Only 11 finished the gruelling race.

“The 30th running left a hangover,” Peterson admitted. “Last year was a wakeup call for the boards. It was like a perfect storm in a way ... a lot of things had come together.”

Still, nothing hurt the race more than the economic recession of 2008, when a market crash left sponsors hard to come by.

The boards have worked to recover since then, attempting to stabilize the race via a solid foundation of people.

Meanwhile, Alaska board president Bill McDonald said the infusion of big-name mushers like Jeff King shows the future is bright.

McDonald, 69, said poor conditions on the Iditarod trail this year may drive more mushers back to the Quest.

The Quest trail is more predictable, he said. And with race competition heating up, that only helps attract further sponsorship deals.

“If the race goes well this year, it could draw more big names,” McDonald said.

“More competition draws mushers back. It’s like having a race car in the Indy 500.”

The 2015 race will begin Feb. 7 in Whitehorse.