Benjamin Atkins is the latest businessman to ask the questions many have asked before him: Why don’t elite triathletes earn more money? Why is such a compelling sport unable to hoist itself up to the level of tennis or golf?

Triathlon is still in the patron stage, where the well-to-do step in to bridge financial gaps for elite athletes in a sport, as that sport struggles to achieve major sport economy. In the past five years three such patrons have emerged: Michael Moritz, the billionaire providing seed funding for the PTO (whether Mr. Moritz’s investment is as a patron or a businessman is a question we’ll broach at another time); Mark Holowesko, Bahamian IRONMAN competitor who funded cycling, first, and then the Island House Triathlon; and Ben Atkins. Mr. Atkins is the least well-known of these three in triathlon circles. (The images just above and below are of Waterfall Bank.)

I have been getting a lot of private inquiries about Waterfall Bank and I thought it might be helpful to add some color to this enterprise and the principal behind it. The race the bank is funding is the Couples Championship, which will take place on March 6th upcoming. There’s also the story of how Heather Jackson came about her bike sponsorship, which I ask about below, and which is a topic on our Reader Forum.

SLOWTWITCH: Ben, when I think of what you represent to many of triathlon’s pros and their families the word patron comes to mind. That term is associated with the arts, but then there's Rex Sinquefield. You might have heard of America’s chess patron, who hoisted U.S. chess on his shoulders and gave it a home, in St. Louis. There are quite a few parallels, such as the Sinquefield Cup and its heavily watched livestream, but we’ll get to that. First, do you accept that patron is the right term and if not can you tell me how you see yourself positioned in triathlon?

Benjamin Atkins: I am definitely a fan of the sport, I consider myself a struggling age grouper and I love the process of preparing for a race. With that said the assistance we provide the athletes and concept of helping the struggling couples with a race and paying them to participate comes from a place of searching for a process or solution to permanently assist that demographic of the sport. A single pro triathlete was hurt by COVID but couples were devastated. I am hopeful the fans pay for the live stream event and show their support so we can together make this an amazing annual event.

ST: Heather Jackson’s bike sponsorship. That’s a topic of conversation on our Reader Forum. Can you tell me how that went down?

BA: I had assisted them with some business struggles they were having and learned how challenging cycling companies were for the triathletes. The lack of funding in that area seemed insane to me. Heather’s bike [the Cervelo P5 Disc pictured here] will certainly be a focal point of many races and the idea that a company wouldn’t pay a reasonable amount to have their name on their own bike seemed like a great opportunity to say to the bike world, "pay up or you may be humiliated and have someone else’s name where yours should be."

ST: Can you talk a little about your background. I mean, I know it a bit, because I Google-stalked you. But for the benefit of our readers can you give them the quick-and-dirty on the life and times of Ben Atkins?

BA: Not much exciting to say. I spent most of my life in health care and real estate. I enjoy working hard and trying to solve tough problems which in turn has provided some rewarding times and of course some disappointments, much like when we train and race in triathlon.

ST: Let’s talk about the bank for a moment. What is the niche Waterfall Bank serves in the community?

BA: The bank came about out of my own frustrations with large banks and their antiquated methods. We serve customers nationwide via our amazing app. For Tampa Bay folks we have a local location if they prefer an old-school bank on the corner. Our niche is the customer or executive on-the-go who wants to be able to initiate wires and control their personal or business banking without being restricted to having to do business via the phone or in person.

ST: How about a little info on your equipment? What do you ride? What do you run in? Are you a Zwifter? Do you have a coach?

BA: I definitely love the sport although I am very slow! I have a Trek Madone road bike and I am terrible on a tri bike – too slow to use it in a race. Not very flexible. I love Zwift and Rouvy and I take swim lessons and do use a coach. It’s easy to spot my Nike Percent Flyknits as I slowly head down a road at a racing pace of eleven-thirty [per mile].

ST: You mentioned pay-per-view. I’m researching that topic right now for an article, which is, the examples of pay-per-view in triathlon and is that a viable platform for us? There is an opinion voiced that you shouldn’t have a paywall in front of the Couples Championship which is, by the way, upcoming March 6th. I mean, it’s only $7.99 but it’s still not, you know, free. But you and I have spoken about this and I think you see this as a platform to build, for the future. But I don’t want to put words in your mouth. Can you describe what you have in mind?

BA: Triathlon needs a revenue stream to support the athletes. if the fans know the athletes are being taken care of and the prize money is significant then paying $7.99 to help create a positive economy, for the professionals to be paid, will be supported. If the fans come out and enjoy the Couples Championship via Facebook Live they can expect to see a lot more of the sport they love.

ST: Two things you said earlier. That you want the Couples Championship to be an annual event, and that you were looking for a permanent solution to help pro triathletes. Is that what the pay-per-view is designed to achieve? And, when I talk to the folks at the PTO I sense that your motives and theirs parallel. I was surprised to learn that your paths have not crossed.

BA: This event is unique. If we venture deeper into events that fit their view I’m sure a partnership can arise.

ST: You have another venture in triathlon that I should ask you about. There’s an age group club-team, Waterfall Racing. What’s the idea behind this team?

BA: We started this as a way for age groupers who don’t have a team, and age group teams who want more sophistication but keep their team identities.

ST: How do you do that second thing: to be a part of your own team but also avail oneself of the tools of the Waterfall team?

BA: The idea is to merge [the teams into] one platform to allow pro interaction, and network [together] coaches and athletes to be able to have group rides, swims and runs whether at home or while traveling.

[PHOTOS: The image just above is of Ben Atkins – center – flanked on the right by a friend, John Cascio, and on the left Scott Berryman. These are not just fellows he met at a camp, Scott Berryman is a “close friend” and I asked if he is that Scott Berryman. For those you don’t remember the name, he’s one of America’s track cycling superstars during America’s track cycling heyday in the 1980s, alongside Mark Gorski, Nelson Vails, Connie Carpenter Phinney, Steve Hegg and others.]