Bank of Butterfield is next Friday.

For nine years, they've had $10,000 kicking around in their vault, ready to be handed over to the runner who manages to beat four minutes for the annual Front Street Mile. So far there have been no takers.

In fact, in the six years the current course has been around, no one has even been able to beat the 4:04.2 posted by Joe Falcon in 1992.

"We actually hope it does go,'' insisted Andy Burnett-Herkes, senior marketing manager for the bank, which recently took on the role of title sponsor for the entire three-day event.

"I pray every morning and every evening (that the mark falls),'' joked race chairman Phil Guishard.

"So do we,'' offered the bank's president and CEO of one month, Calum Johnston.

Alas, they will all likely come away disappointed. Runners have previously cited the tight turns of the Front Street course and the unconventional clockwise direction they must travel as reasons behind the relatively slow times. As well, officials do not as yet have a pace-setting "rabbit'' lined up; Steve Burgess, who usually takes on that role, has bowed out.

A slight change to the course is not expeced to impact times one way or the other nor are further alterations planned. "Frankly, right now the course is not broke so I see no reason to fix it,'' Guishard said.

The return of defending champion Marcus O'Sullivan is seen as a good omen, particuarly, Guishard said, his enthusiasm at coming. O'Sullivan has broken four minutes about 100 times in his illustrious career.

"He, like all other previous winners over the years, has indicated that it is possible to break the record,'' said Guishard.

In addition to the mile, the bank is also putting up $30,000 for runners who break the marathon record (2:15:20 for men, 2:42:47 for women) or 10K (28:14 and 31:14) record.

A total purse of $25,000 is up for grabs, including, for the first time, money for fourth and fifth place in the marathon. This means age-group winners will see less.

The total financial package comes from the $195,000 given by the bank to the Bermuda Track and Field Association for sponsorship of the event over the next three years.

It represents the bank's biggest investment in Island sports and is one that has several spin-offs within the community, said Burentt-Herkes. "We think this event has an awful lot of potential,'' he said.

"It brings a lot of people together and it's a good family event.'' Last year, a crowd of about 6,000 people jammed Front Street to watch the mile. In contrast, Burnett-Herkes said, only about 200 watched the initial race nine years ago.

Several high-profile Island sporting events have lost major sponsors over the past two years, so the bank's investment is especially welcome. In addition to relieving organisers of stress, it allows them "to devote more time to improving the event,'' said Guishard.

Department of Tourism sports marketing director Wayne Smith praised the bank and the BTFA for engaging in the "strategic alliance'' that will help bring close to 1,000 overseas runners to Bermuda. Marathon Tours and Bermuda Commercial Bank are also helping out.