Powerboat P1, the organizer of Sarasota's annual Powerboat Grand Prix, has announced that Sarasota will not be part of its Triple Crown race series this year. 

The decision—which comes organizers moved last year's race from its traditional July 4weekend date to mid-September—was influenced by budget and safety concerns from Powerboat P1 and uncertainty surrounding ongoing construction at The Bay, specifically around the Van Wezel parking lot and Centennial Park. 

Powerboat racing began in Sarasota in 1986, and Sarasota has been one of the world's longest continuously running race sites. The decision to cancel it this year will likely affect local businesses, who say the influx of race-goers provides a bump in revenue during what's typically a slower time of year.

"This event has been a cornerstone of our community for nearly four decades," says Pete Harvey, director of sports for Visit Sarasota County. "We understand Powerboat P1’s decision and appreciate their commitment to maintaining the event’s high standards. We look forward to its potential return in the future.”

While the race won't take place this year, Thomas Covington, Powerboat P1's commercial director, says, the company is "optimistic" about finding ways to bring the event back to the area, whether it's at an alternate site during The Bay's construction period or securing additional sponsorship support to bolster its budget. 

Altering the event by making it smaller and adapting to construction and budgetary restraints isn't an option, Covington says. "We feel scaling down the event would not do justice to the legacy Sarasota has built over the years," he says.