COEUR D’ALENE, Idaho -- Organizers of the Coeur d’Alene Diamond Cup said they are working hard to not only put on the 2014 race but they are also working to pay off debts from 2013.
The group still owes money to both local businesses and the hydroplane league. The President of the Diamond Cup said he has learned his lessons from 2013.
“We’re looking at the 2013 event as our learning year. We’re looking to 2014 now. And now we have to pay off our student loans,” said President Doug Miller.
The return of the hydro races was a success but the event lost money. Miller is now left paying back several businesses that helped with last year’s race and have yet to be paid.
“When it’s all said and done, with everything that we owe, we’re under a couple hundred thousand dollars. With all things considered is not that bad. It’s not good. But it’s not the position we wanted to be in,” said Miller.
The group also owes money to the league that governs the Diamond Cup, H1 Unlimited. Miller said that too many people were able to watch the event for free resulting in low-ticket sales.
The Diamond Cup is currently without a title sponsor, but Miller said they are in talks with a few large companies.