Titans of Mavericks surf contest backers file for bankruptcy
SAN FRANCISCO (AP) The organizers of the Titans of Mavericks big wave surf contest have filed for bankruptcy.
The Santa Cruz Sentinel reports (http://bit.ly/2jD4kmH ) that contest organizers Cartel Management Inc. and Titans of Mavericks LLC filed for Chapter 11 bankruptcy on Tuesday. The filing was first reported by KNTV in San Jose.
Cartel founder Griffin Guess is expected to release further details Wednesday.
Cartel Management acquired the contest, which is held in 25-foot-plus waves at the Maverick's break near Pillar Point in Half Moon Bay, last year.
The contest window runs from Nov. 1 through March 31. For a first time, the contest is slated to have a women's heat.
Additionally, Red Bull Media House North America filed suit against the companies for breach of contract and unjust enrichment last Friday. Red Bull Media had been contracted to provide live streaming of the contest.
Information from: Santa Cruz Sentinel, http://www.santacruzsentinel.com