Powerboat P1 have issued the following announcement today.
Unfortunately, due to significant financial concerns around the Scarborough event, P1 will not be going ahead with the SuperStock UK race weekend in Yorkshire at the beginning of September.
We have visited Scarborough on two previous occasions and, although there has been some financial support at local level, sufficient institutional and commercial income for the 2017 event has simply not been forthcoming to offset the event costs. I am sure you can appreciate that it would not make commercial sense for us to run this – or any of our other events – at a significant loss. Whilst P1 has, at times, invested in new events, an event in its third year should be commercially viable.
A loss-making event deprives the business of funds that can be better used for the development of the SuperStock Championship in future years.
We have looked at a variety of possible funding solutions with the Council but it is simply not in a position to provide the additional support that is needed. We have informed the Council of our decision and, while they too are disappointed, they fully understand the reasons behind the decision.
Our hope is that in the future an agreement can reached with Scarborough Borough Council and various local commercial partners to ensure a sustainable and financially viable event on the P1 calendar for many years to come.
This means that the final round of the 2017 UK SuperStock Championship will take place this weekend in Milford Haven. We have adjusted the timetable and scheduled 6 races, so there are a large number of points up for grabs in Wales – this goes some way to making up the shortfall of races that we would otherwise have been staged in Scarborough.
We will be making an announcement at the end of the summer about plans for the 2018 race season which will contain a number of exciting new developments.