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You can do any other similar distance event and tell people you're doing an ironman, the branding isn't important. And then you won't have to go to Wales or, worse, Bolton.
Last time I checked, the UK has more iron distance events than any other country, including the States, where they're all brand junkies and just want the M-dot. The nearest one is in Dartford. Spoiled for choice.
Interesting (as a prospective Ironman(TM) entrant). Sadly I think I'll do at least one (like IM Wales in 2016) purely because of the branding/name/cachet/bucket-list aspect.
However, as an Audaxer I'm used to paying next to fuck all for a whole lot of time on the bike. £3 for a 200km ride. £30 to ride a 600km ride (with some food included) but, with the rest of the food required, it ends up closer to £60 for a fully packed 40h weekend. Bargain.
I guess there are enough devotees and one/two time suckers (like me) to keep the Ironman brand going at that rate. (TM).