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The Boston Marathon finish line. Photo: Maddie Meyer/Getty Images

The Boston Marathon has been cancelled as an in-person event, and will instead be held virtually in response to the coronavirus pandemic, the Boston Athletic Association announced Thursday.

The big picture: This is the first time the race has been cancelled in its 124-year history. It was previously slated for Sept. 14, after the initial April 20 race date was postponed. The BAA 5K scheduled for Sept. 12 has also been cancelled. Would-be runners for both events will be refunded their entry fee.

  • The virtual events are expected to include exclusive panel discussions, champion interviews and a downloadable Boston Marathon toolkit, the BAA said.

What he's saying: “Our top priority continues to be safeguarding the health of the community, as well as our staff, participants, volunteers, spectators, and supporters,” BAA CEO Tom Grilk said. “While we cannot bring the world to Boston in September, we plan to bring Boston to the world for an historic 124th Boston Marathon.”

Go deeper

Ben Geman, author of Generate
Aug 3, 2020 - Economy & Business

Marathon to sell Speedway gas stations to 7-Eleven for $21 billion

Photo: Bruce Bennett/Getty Images

Refining giant Marathon Petroleum Corp. announced late Sunday that it's selling its Speedway retail gasoline stations and convenience stores to 7-Eleven, Inc. in a $21 billion cash deal.

Why it matters: It's the year's biggest energy deal thus far, the Wall Street Journal notes.

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

15 mins ago - Health
Axios Investigates

Documents reveal the secrecy of America's drug pricing matrix

Illustration: Aïda Amer/Axios

American businesses spend hundreds of billions of dollars a year on prescription drugs, and the bills keep getting bigger. But some of the companies promising to help rein in those costs prevent employers from looking under the hood.

Why it matters: Documents provided to Axios reveal a new layer of secrecy within the maze of American drug pricing — one in which firms that manage drug coverage for hundreds of employers, representing millions of workers, obscure the details of their work and make it difficult to figure out whether they're actually providing a good deal.