In a bit of surprising news, Powerboat P1 announced it was canceling its 2010 racing season for the Evolution and SuperSport classes due to an unsustainable business model. Following a seven-year investment to the tune of 30 million Euro, the management company, like any investor, took a close look at the return on investment generated by the championship series and decided to pull the plug for 2010.

To read the statement released by Powerboat P1 Chairman Asif Rangoonwalla, click here.

Also, Powerboat Editor at Large, Matt Trulio, spoke with Martin Sanborn after the information was released and has posted his interview with Powerboat P1’s director of North American operations on his site www.speedonthewater.com.

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