Branson joins London marathon as runner and sponsor

LONDON (Reuters Life!) - British billionaire Richard Branson, whose Virgin Group of businesses spans music to space travel, is preparing to run his first marathon in 2010 to give a boost to London's biggest fundraising race.

Virgin Group announced on Friday it had signed a 17 million pound ($33 million) deal to replace Unilever's Flora as official sponsor of the London Marathon from 2010 for five years.

"I have actually avoided running since I was a child. I have practiced swimming and other sports, but I will do anything I can for fundraising", the 57-year-old entrepreneur told Reuters.

Branson, who set up a charity to help young people when he was 17, said he aims to freshen up the London event by relying on his deep-rooted experience in the entertainment industry.

"We want to create the biggest party Londoners have ever seen", he said.

Virgin also said it plans to launch a new website in April 2009, allowing users to enter the race, watch celebrities training and download music play lists.

Over 400 million pounds ($778 million) has been raised in sponsorship for charities since the London Marathon first took place in 1981, the organizers said.

In 2007, the London race earned a Guinness world record as the largest single annual fundraising event in the world, by raising a record breaking 46.5 million pounds ($90 million), organizers said.

About 34,500 runners crossed the finish line last April.

"(The London Marathon) raises more money than any other sport event for charity and I've been spending more time now to tackle social problems," Branson explained. "Our aim is to help runners smash the quarter billion pounds ($486 million) in five years".

Founded in 1970, the Virgin Group has expanded its reach to air travel, mobile, financial, retail, music, internet, drinks, rail, hotels and leisure. Virgin Money, the financial services division of the group will lead the deal with the London Marathon.

(Reporting by Antonella Ciancio)