Big Wave Updates
Troubled surf contest available to highest bidder
Surfersvillage Global Surf News, 22 May, 2017 - Got a few million? You could own naming rights to the Mavericks surfing contest. It was announced this week that Cartel Management and Titans of Mavericks will have a public sale in June with bids starting at $1 million.
Since 2014 the Titans of Mavericks group had sunk up to $3 million into developing the brand and staging the annual event. But earlier this year they filed Chapter 11 to keep the assets and intellectual property of the event in tact.
The event has changed hands several times since its inception with everyone from Quiksilver to Ask.com.
Griffin Guess of Titans of Mavericks told Sports Illustrated the auction will make it fair as to who gets to own the event.
“Having many connections and relationships spanning across a dynamic range of industries, and after substantive discussions with individual and corporate investors, I believe the auction process creates a level playing field designed to maximize the value obtained for the company’s assets," Guess told Sports Illustrated.
The June 1 auction will take place in Los Angeles.