Author Topic: Mavericks surf contest organizers file for bankruptcy  (Read 3005 times)

hbsteve

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Mavericks surf contest organizers file for bankruptcy
« on: February 01, 2017, 09:25:39 PM »
This was just on the evening news in Southern California.  It seems that the contest can't go on at this time.

Beasho

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TallDude

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #2 on: February 01, 2017, 10:30:33 PM »
So I guess it's back to conquering the giant on your own terms. No world wide televised fame. Just do it to do it. May thin out the crowds?
It's not overhead to me!
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SUPcheat

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #3 on: February 01, 2017, 11:17:43 PM »
It's a reorganization type bankruptcy, trying to keep the core organization intact. I have always wondered about the liability issues.  Do any of the competitors sign waivers and the usual boiler plate stuff?
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Weasels wake

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #4 on: February 02, 2017, 02:56:20 PM »
Not to mention the liability of the spectators, remembering the high tide washout of a couple of years ago, people got hurt.
But hopefully they figure all that out, it's a premier event IMO, hate to see it go.
It takes a quiver to do that.

PonoBill

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #5 on: February 02, 2017, 03:42:19 PM »
Looks like a strange story. Based on the filings, the largest amount owed is to Segler Holdings, owner of a sunless tanning product called Glisin. Segler sued Marissa Miller, wife of Griffen Guess, the owner of Cartel Management, for failure to promote their product and won a $1M jusdgement. I guess the 700K in the filing is the Cartel share of that judgement:

Marisa Miller is an international supermodel whose credits include Victoria's Secret, Cosmopolitan, and the cover of the Sports Illustrated Swimsuit Issue. Cartel Management, a company owned by Miller's husband, Griffin Guess, manages Miller. Guess also owns Titans of Mavericks, a surfing competition.

The other major creditor is Griffen Guess, and then a lot of smaller creditors. I don't see how spectator liability enters into it.

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southwesterly

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #6 on: February 03, 2017, 05:08:46 PM »
This was on Jeff Clark's FB page today:

So bummed to have to share this with you all.

"Those of us with Mavericks Invitational Inc. are shocked and frustrated by the unexpected news of the Chapter 11 filing by Cartel Management, Inc. and Titans of Mavericks LLC. Our primary focus has always been to support the men and women who surf Mavericks, preserve the sanctity of the wave and support our local community. We have sacrificed much to create a stage for the world's best big wave surfers, and we are disappointed that this latest news adds to the stormy history of the event and the wave. To learn of the filing through the media only highlights the disconnect between our community and the promises made but not fulfilled by those who do not carry the commitment to this sacred place in their hearts and souls."

PonoBill

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Re: Mavericks surf contest organizers file for bankruptcy
« Reply #7 on: February 03, 2017, 06:11:08 PM »
Jeff is talking about heart and soul while Cartel Management is worried about paying $700K for failing to promote sunless tanning goop.

There might be a disconnect there.
Foote 10'4X34", SIC 17.5 V1 hollow and an EPS one in Hood River. Foote 9'0" x 31", L41 8'8", 18' Speedboard, etc. etc.

 


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