Powerboat P1 have confirmed that KBL Powerboat Management Ltd is to take over the running of the Cowes Classic.

It was confirmed yesterday that KBL Powerboat Management Ltd, rights holder and promoter of the U.I.M. Powerboat P1 World Championship, is to take over the running of the Cowes Classic, one of the world’s premier festivals of offshore racing. In its deal with the British Powerboat Racing Club, KBL will be responsible for the long term development of the festival, a major component of which is to establish the Cowes Classic as the new British home of the U.I.M. Powerboat P1 World Championship.

The Cowes Classic, established in 1961, brings together powerboats and their crews from across the globe for five days of spectacular and highly competitive racing. The 2005 festival will commence on Thursday 25th August and include a series of national and championship rounds along with the British Grand Prix, comprising two rounds of the Powerboat P1 World Championship. With more than 70 boats expected, the festival’s new promoter intends to work closely with the Isle of Wight Council, local business and the UK tourism industry to create an international spectacle with worldwide appeal.

“Powerboat P1 is the success story of performance boat racing with its international flavour, competitor numbers and marine industry backing increasing year-on-year. In 2005 the Championship comprises seven events in six European countries and at least 20 high-performance craft are expected to compete in the UK leg of the World Championship.” Comments Nathan Knight, CEO, KBL Powerboat Management Ltd.

Lord Beaverbrook, Chairman, British Powerboat Racing Club also seemed happy with the news: “The Cowes Classic is steeped in racing history and we are excited by the prospect of combining the P1 World Championship with such a prestigious event. We now have the ingredients to make this classic meeting the industry show piece and a real celebration of marine motorsport. Our objective is to create a festival of performance racing that the public can relate to in much the same way that they do with the Grand National at Aintree or the British Grand Prix at Silverstone.”