Ok, so from the threads I read here, I am concluding that it wasn't the race itself but, the trust placed into the race organizers, and thier mismanagement of funds acquired towards the event, followed by the loss of entrants fee's or the deposits made, that subsequently lead to its end.

So In this it would be very apparent, that I would have my work cut out for me, on my Own Event.
What if anything, would anyone suggest, that would guarantee those funds and or deposits?
would a trust account with a bank, suffice, whereby the bank would only release to organizers, thier part of those funds, once the minimum number of enterants were reached. The bank also would hold back all prize monies, as well releasing those prizes to those who win?