p1
 

the word is in a meeting today in london that p1 have cancelled all p1 races ,the end of supersport and evo is a crying shame

p1
 

raceboatinternational.com/index. April 2010 – At an extraordinary meeting on the outskirts of London today, Powerboat P1 promoter Asif Rangoonwala announced that as from today, the UIM World Powerboat P1 Championships for Evolution and Super Sport has been cancelled. We do not know the full reasoning behind Mr Rangoonwala’s decision but it was almost certainly financial but he has assured all those team owners who have invested heavily in P1 that he will do everything possible to assist them as long as it does not involve money

Information Update from Powerboat P1 USA
 

The Changing Face of the Powerboat P1 World Championship

Racers and Fans,

As often happens in this sport, speculation and rumors tend to dominate the communications channels, so I believe that it is important to give you as much information as possible from the source.

Today the Powerboat P1 World Championship held a meeting with the European teams outlining a restructuring of the business and the championship platform for the 2010 season in Europe. The meeting detailed changes to the event schedule for the season, and laid out a direction for the future growth of the sport.

Asif Rangoonwala, Chairman of Powerboat P1 Management, arranged the meeting and flew in the teams for what was described as a Teams “Extraordinary” Meeting. Eighteen race team members were present in London for the announcement, and the subsequent discussion session. There they learned the details and reasoning for the re-direction of resources, stemming largely from internal and external economic circumstances. Rangoonwala cited issues with the general economic climate worldwide, event promoter contractual commitments, and the commitments of some teams.

“I am fully committed to continuing the development and growth of the sport, but we need to take a step back before we can take a leap forward,” said Rangoonwala. “We have made an investment of over €30m over the past 7 years, with an additional investment of over €2.2m this year alone. We need a new strategy, and to build the foundation of the business so that it is sustainable with long term stability.”

A key element of that direction and strategy moving forward is the expansion into the North American market, where there are greater commercial and racing opportunities

The simple fact is, the USA and European markets are substantially different, particularly in the marine industry. Europe, a year behind the US, is now experiencing what the US did in 2009. The US also has a great advantage as we have the venues, the racers and the fan base.

The technology of the US manufacturers has revolutionized the sport, and is proven by the competition in both classes for the past several years. Donzi, Outerlimits, Fountain, Cigarette…they are indeed dominant in the sport and have seen their numbers in European sales grow as a result. The US changed the face of European racing and European racing impressed the Americans involved.

From a practical point of view, there are far more offshore racers, fans, and marine manufacturers in the USA, and that makes the Powerboat P1 race model a viable and sustainable platform. That is especially true when the additional Powerboat P1 principles of parity and competition rules are incorporated.

Powerboat P1 Management will continue to invest in the growth and development of powerboat racing in Europe and is projected to invest significantly in the USA this year; working toward the plans that we have discussed with teams and organizations for 2011 and beyond.

Powerboat P1 USA will continue to work with teams and organizations to expand the Powerboat P1 race platform, focusing on limited classes, professional teams, and an event format that is world class in nature. It will also work to incorporate the other platforms outlined in the statement provided by Rangoonwala, including SuperStock and Aquabike, providing event producers and organizations opportunities to benefit from multiple disciplines and an ocean-friendly festival format over multiple days.

We look forward to a great season of racing with the SVL class, and hope to be able to incorporate a similar contingency prize program for the twin engine boats as well.

As Asif said in his announcement, “…Powerboat P1 remains fully committed to the Championship.” His statement is supported by the fact that no one in the recent or distant past has ever invested as much in this sport.

Powerboat P1 has a huge stake in the future success of Powerboat racing, and it is going to protect that investment by directing resources where they can have the maximum impact. They are making decisions that have long-term business implications with specific strategic objectives. This is great news for US teams and fans since the US market and direction is pivotal to the overall business objectives.

Don’t let the European announcement dissolution you or dampen your enthusiasm for racing! The Powerboat P1 community is pulling together to address pressing business issues overseas but continues its confidence in the overall sport, the North American market and racers.

I encourage you to read the announcement from Powerboat P1 www.powerboatp1.com, and watch for future updates. We will keep you in the loop and look forward to your continued involvement.

Martin Sanborn
Director, North American Operations

So, said with only a few straight words; the european Evo & SS races is cancelled for 2010, and it will be moved to the US? Right???

Too bad... Absolutly TOO BAD... And I`m just a powerboat racing fan, from Europe, who loves to go to see these boats race...
Wonder how the european teams feel right now...

Well...we still have the Class1 to go see...with 6-7 boats...for now...

Both fans and teams are pissed off, trust me I know what i'm saying....

Both fans and teams are pissed off, trust me I know what i'm saying.... butt ............ well.. ;)

I know a lot of US teams ran the series for yrs. maybe now some of the European teams will run the US series. I'm sure the equipment is ready to go. Not like we have a shortage of races . Be awesome to see all the V bottoms running together.

The bad PR in all this, it is like left less to month before the season started. Many teams have been preparing the boats some also buying new or building a new boat.
And then if you are in financial trouble why buy the Superstock championship? Why make a deal to do the Syracuse race on Eurosport live?
Dont get me wrong both of these are great ideas, but when things turn ugly you just have to put a cruise control to your spending and may be slowing it down, kinda like they did last year. In the end we still had a great P1 championship in 2009. Maybe one of the best in the last three years considering how both the classes where decided.

:Score-101010::Score-101010::Score-101010:

I think the boat count was hurting them, and with that said they were having trouble keeping sites.

+1 liam

I have had a 1 hour interview with Robert Wicks the CEO of P1, for the magazine I wriite for in England, and he said that the Superstock series that they acquired together with the the RIB World Championship and the Jetsport UIM Championship will all benefit from the budget they would have spent on P1, so if you believe what he says then it isn't financial - he also laid the blame on the venues and the teams not being professional enough and there not being enough boats and too many breakdowns leaving somewhat less of a spectacle making the sport "not sustainable".

I know that there are a large number of people who spent Easter on the phone trying to sort this out so that the teams have somewhere to race the boats. |P1 are insisting they will be back in the big boats in two years ..............

They obviously don`t even look at the Class1, I guess...:confused:
What I find very strange, is why they don`t run Class1 & P1 at the same events. At least some of them where there`s possibilities. Like Sweden this year...? Instead they schedule two events at the same weekend, only 45 minutes travel between them...

We had the same thing in the UK with the old Formula Four Stroke Honda series that P1 has taken over not wanting to race with the other classes which was fine when Honda was pouring money in, but when they started to withdraw and the numbers declined they still wouldn't join in - if they want more spectacle what could be better than Class One cats and Class One/P1 Monos at the same venue?

I think they think it dilutes the brand - I think it strengthens the apparent value of the event!

As you are saying it I understand that Wicks says that instead spending money on P1 Evo and SS we spent it on Honda4 and the new Rib class, and the return will be the same.
If you have problems with the teams and venues this should be handled by latest end of 2009 not a month before the championship started.
I agree on venues the cancellation of Croatia a month before it happened because they did not pay up was a shame, but so did P1 management last week. They cancelled a whole championship!
For the teams I dont know, but may be P1 wanted an upfront fee for a whole season instead the usual before you race fee they had last year.
I hope for P1 management that the teams will be interested to race with them, becacuse according to Daniel Cramphorn from Team SW1 they have already / should manage to run a championship with 19 boats in 2 classes and 5 confirmed GP venues so far.

There is a lot of potential in P1 how to make benefits of it is for them to see and find.

As for P1 and Class 1 togather I dont agree. Look at the sea condition P1 race into. It is like making a F1 race togather with a rally one = impossible.

Very difficult to achieve commercial success in offshore racing with 1 or 2 classes each having 5 - 7 boats.

Where did you find that out....?
As for the moment there is really nowhere an official statement that explains it. Neither on their website, or any other communication.

Right now I know many people behind the scenes are fighting to keep the races going, maybe or maybe not, somewhere in another format. I really hope this can go on, not only because teams were allready preparing themselves, even some have new boats.

It should be a great shame that this powerboat circuit that each time was growing and growing and becoming beter, has now the risk of become a victim of his own success.

Let's all keep in our hearts where it should be all about; powerboatracing!!

It is said in the official site with statement from Asif fropm 1/4/2010.
According to Daniel Cramphorn from Team SW1 the teams from both classes (SS and Evo), 19 in total should manage to do a champioship on there own, but without P1 Ltd the company involved in it. Lets keep our fingers crossed and hope they manage.

I agree with powerboatracing, so far everybody is speculating , no real sense from dicussions, I know many people involved who are working tirelsessly to get some racing done, we can do nothing, only disturb, so lets just say a prayer , keep our fingers crossed and try to help,

Rob.

From the P1 site;

" P1 MANAGEMENT COMMITTEE STATEMENT

Considering the overall challenging situation, the P1 Management Committee met on the 12th of April 2010 at Villa Malpensa,
Italy to find a reasonable and acceptable solution in order not to put in jeopardy the 2010 Powerboat P1 racing season.

The UIM President reprimanded the Powerboat P1 Management on the untimely decision to suspend the 2010 racing season.
After constructive discussions, at the end of the meeting, it was unanimously agreed by the P1 Management Committee that the UIM Powerboat P1 contracted promoter
will use all its good offices to organize as many events as feasible in 2010 and honour the obligations with the UIM.

Dr. Raffaele Chiulli
UIM President

Mr. Jean-Marie Van Lancker
President UIM Pleasure Navigation Commission

Mr. Asif Rangoonwala
Chairman and CEO Powerboat P1 Management Limited "

YES YES YEEEEEEEEEEESSSSSS!!!!:evilb:
I knew there had to be some reasonable people in the UIM...:kiss:

I agree with this decision spot on. The P1 Management was very careless towards the competitors and the venues.
Now is for another great championship.

Conclusion;

- "Powerboat P1 Management Ltd" will not organise any events for the 2010 Championship 2010.

- U.I.M. takes over the role from the promoter in 2010, and the U.I.M. will under its direct authority,
authorise the organisation of the 2010 World Championship events.

For the moment, 3 world championship events are already confirmed and ther are negotiations for 2 other events:

7-9 May UKRAINE Yalta

11-13 June MALTA Valletta

16-18 July ITALY To be confirmed

6-8 August SWEDEN To be confirmed

17-19 September ITALY, Sicily Siracusa"

COOL at least we'll have some racing.

2B1 Racing Team : Yalta here we come !!!

:evilb:

Some news about this here: http://www.poweryachtblog.com/2010/0...10-season.html

You can also see a preview photo of the new Chaudron 44 evolution class boat on top of this article. This looks one hot season and P1 Mangement Ltd really lost itself.
18 boats so far confirmed with more to come....

Do you have more pics of the new Chaudron Evo boat??? Or know where to find any on the net?

Here is some videos of the first launching in Malta the past weekend.
http://www.youtube.com/watch?v=1vkXrgNnlLk
http://www.youtube.com/watch?v=Nh5u9qRQBBw

Wow! That looks great! :-) Looking forward to see it in racing!

Funny thow... I noticed that it had nearly the same lines as the "2008 Rico Offshore" RC-racer...:drink:

http://www.ricoracing.com/sitebuilde...64-448x332.jpg

http://www.chaudronpowerboats.com/2010-BOAT/index.html

down the page.