Marathon places for sale

London Marathon charity places are being sold on the "black market" at more than twice their face value.

Charities are having to pay over the odds for guaranteed places for runners because of a dire shortage of the entries.

The problem has emerged because of the "golden bond" system. One bond, which costs ?1,250 at face value, guarantees the charity that bought it five marathon places for five years. But they have proved so popular no more can be bought on the normal market.

Instead organisations have traded them. Charity magazine Third Sector reported one paid ?3,000 for a bond eligible for this year's race on 17 April. Others are believed to have done the same.

Charities can raise ?750 to ?2,000 from each place through sponsorship. By 1999, the 2,400 bonds ran out, and 600 charities are on a waiting list.