Got this today....
Powerboat P1 Press Office, March 2005: It is today confirmed that KBL Powerboat Management Ltd, rights holder and promoter of the U.I.M. Powerboat P1 World Championship, is to take over the running of the Cowes Classic, one of the world’s premier festivals of offshore racing. In its deal with the British Powerboat Racing Club, KBL will be responsible for the long term development of the festival, a major component of which is to establish the Cowes Classic as the new British home of the U.I.M. Powerboat P1 World Championship.
Interesting times ahead then!