The early 2010 GEICO v. Super Boat International (SBI) lawsuit has come to a cordial close. After reviewing the claims and counterclaims of the filing, both parties have decided a quiet resolution out of the public eye is the best decision for everyone involved as well as the offshore racing sport as a whole.

In the details of the lawsuit, GEICO argues SBI did not follow through on a $150,000 title sponsorship agreement that would market GEICO with logos on SBI race boats as well as 60 1-minute “vignettes” and two 30-second commercials to air on CBS during eight SBI race broadcasts between October and December 2009.

“It is unfortunate that we had to go through this long and difficult process, but we were confident of the eventual outcome,” stated John Carbonell, president of SBI, in a press release.

Although the details of the settlement reached are not confidential, both GEICO and SBI have agreed it is best to resolve their differences quietly and to not further air the dispute in a public forum.