The Yukon Quest board of directors announced yesterday a minimum purse for the 2012 race.

The minimum purse is set at US$150,000 for the 2012 Yukon Quest International Sled Dog Race, a 1,600-kilometre (1,000-mile) trek which is set to leave Fairbanks, Alaska, on Feb. 4 before ending in Whitehorse.

The purse announcement comes in time for the opening sign-up day, planned for Saturday at the Yukon Quest office, where there will be a barbecue.

Entry packages for interested mushers are also available at www.yukonquest.com.

"This race and its purse rely on the support of the business community and the many individuals who give time and money to the race,” said Joost Van Der Putten, president of the Yukon board of directors.

"Our fan base includes people from the around the world. I really want to encourage more corporations to support this iconic event. With the increasing media coverage, race sponsors benefit even more from the international exposure.”

Van Der Putten and both the Alaska and Yukon boards are looking to up the ante for this year's Yukon Quest to attract more interest from mushers.

The purse has been the same for the past three years, he added.

"On one side, we're happy we can stick to the purse we had. On the other side, we would like to raise the purse a little bit more,” Van Der Putten said.

"We're trying to get it higher, but we have to work on that and secure some funding before we can do so. We have a focus on sponsorship this year, looking at the Yukon economy right now.”

The purse for the 2011 Iditarod purse reached US$528,000, the Anchorage Daily News reported last March.

Historically, many mushers are faced with the choice of competing in the Iditarod or the Yukon Quest, due to timing.

"We're not looking directly at the Iditarod as something we would like to match with respect to the purse. It's a bigger race; it's quite commercial. Of course we would like to improve on that part and see that we can raise the purse and attract more interest in the Yukon Quest, maybe media, maybe more visitors, more mushers. But we would like to stick to our core values, keep the race as it used to be.

"Of course, we have to grow with the times. If we could raise the purse, we would do so. It's still a target for this year.”

The purse as well as operational costs of running the race are raised through sponsor support and fund-raising.

There are many sponsorship opportunities including the trail, the vet program, checkpoint sponsorships and official suppliers. Those wishing to sponsor or donate funds or materials can contact either Yukon Quest office.

The draw winner will receive a prize of US$1,000.

"We are pleased to be able to once again guarantee the minimum purse for the 2012 race. That being said the staff and sponsorship team are working hard to secure as many return and new sponsors as possible,” stated Julie Estey, president of the Alaska Board.

"With the revitalized economy in Yukon and the hard work we are doing in Alaska to secure additional sponsors we are very hopeful that the race will be in a solid financial position.”

Saturday's opening day will be a party on both sides of the border with the Alaska team hosting a Fancy Ice Cream Social from 2-4 p.m. and the Yukon team hosting the second annual volunteer appreciation party and barbeque from 3-5 p.m.

Everyone is invited to these events which give fans, volunteers and mushers a chance to meet and talk about the Yukon Quest.

The Starter Program bidding will also be launched online at www.yukonquest.com, giving fans the opportunity to purchase an exclusive package to ride with their favourite musher to the start line and other perks.

Mushers can sign up in person either at race headquarters in Fairbanks from 2-4 p.m. or at the race headquarters in the White Pass Depot in Whitehorse from 3-5 p.m.

An incentive draw will be held on August 13th for all mushers officially entered on or before opening day.

On Saturday, the Yukon board of directors will also announce the new executive director, Van Der Putten said.

The new executive directors will replace Georgina Leslie, who announced in May she was stepping down from the position after one year.

Van Der Putten is still settling in as president of the Yukon board after taking over from Al Doherty earlier this year.

"It's a challenge taking over from Al being involved for so many years. It's turning out quite well,” he said.

"The relationship with the board on the Yukon side as well as on the Alaska side, and both staffs, is quite good.

"We have several plans but it's a little premature to discuss them.”