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ALTON - Alton Committee of the Whole members on Monday laid over an agreement to bring back the Alton Midwest Nationals Formula 1 (F1) Powerboat Championship races - not only for 2025, but for the next three years.

The second annual installment of the boat-racing spectacle would be held from Friday, July 18 to Sunday, July 20, 2025. A press release contained in Monday’s meeting documents describes an “epic” event featuring “fast boats racing on the Mississippi River and tons of fun activities for everyone to enjoy.”

Spectators at Riverfront Park would see “some of the best powerboat racers in North America” compete in a series of circuit races, making razor-sharp turns in laps around the river at speeds of up to 120 mph.

Other activities would include a meet-and-greet event with the racers on Friday night and “vendor displays, free viewing areas, a VIP Experience, music, food, and more” throughout the weekend.

The three-year agreement calls for a minimum of 15 F1 boats, eight Formula Light boats, and 12 Tri-Hull boats to be included in each annual event, funded by a series of annual fees from the city. These would total $150,000 for all three years, with $60,000 to be paid in 2025, $50,000 in 2026, and $40,000 in 2027.

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The city and Seebold Sports Inc. (SSI), the company producing the race, would also agree to mutually fund a Prize Purse with a minimum amount of $19,825 for race participants, though a maximum amount was not set.

In addition to a $40,000 state grant and the city’s annual fees, event organizers aim to fund the event with sponsorships from the local business community, seeking contract renewals with last year’s sponsors.

The 2024 Alton Midwest Nationals saw an estimated 10,000 attendees generate over $3 million in visitor spending. Last year’s event also brought in $251,692 worth of sales tax revenue in addition to $31,680 of lodging tax revenue.

However, the agreement notes that “all monies and/or fees” collected from boat drivers, owners, sponsors, crew members, or generated from live-streaming or television programming on behalf of the race and its organizers would go solely to SSI, not the city.

In addition to any sales and lodging tax generated, the city would receive revenue from all non-VIP alcohol sales and food vendor displays, which would go directly to the Alton Amphitheater Commission. SSI would also agree to a 50/50 profit-sharing split with the city on all revenue made after the event proceeds have covered SSI’s incurred event costs.

Alderwoman Carolyn MacAfee made the motion to lay over a resolution authorizing the City of Alton to enter into the three-year, $150,000 agreement with Southern Professional Outboard Racing Tour.

While the item will no longer face a City Council vote this week, it’s likely to reappear on a future agenda. Stay tuned to Riverbender.com for the latest updates.

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