ALTON - A three-year, $150,000 agreement for Alton to host the Alton Midwest Nationals F1 Powerboat Championship for the next three years is back up for consideration after being laid over last week.
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As first reported on Riverbender.com, the Alton Committee of the Whole previously laid over an agreement which would see the boat-racing spectacle return to the Alton riverfront for 2025, 2026, and 2027. That agreement now appears on the agenda for the committee meeting next Monday, Dec. 16, 2024.
Also on the agenda is a presentation from Cory Jobe of the Great Rivers & Routes Tourism Bureau and Tim Seebold of Seebold Sports Inc., the company producing the race. Under the Public Comment portion of Monday’s meeting, Rob Honke of the Alton Marina has signed up to speak “in favor of F1 Powerboat Races this summer.”
If approved by the committee and City Council, an entire weekend’s worth of events would run from Friday, July 18 to Sunday, July 20, 2025 for the 2nd annual Alton Midwest Nationals. From meet-and-greets with the racers to the main-event F1 circuit races, the jam-packed itinerary includes “tons of fun activities for everyone to enjoy,” according to a press release contained in meeting documents. More details are available in our previous coverage.
Last year’s event proved immensely successful, seeing an estimated 10,000 attendees generate over $3 million in visitor spending, $251,692 worth of sales tax revenue, and $31,680 of lodging tax revenue.
Under the agreement between the city and Southern Professional Outboard Racing, the city would agree to cover event fees for all three years of the event, totaling $150,000 of Food and Beverage Sales Tax funds. These would fund the minimum number of boats per class for each event, totaling $60,000 in 2025, $50,000 in 2026, and $40,000 in 2027.
The city and Seebold Sports Inc. would also agree to mutually fund a Prize Purse with a minimum amount of $19,825 for race participants, though a maximum amount has not been set. Seebold Sports, Inc. would also agree to a 50/50 profit-sharing split with the city on all revenue made after the event proceeds have covered their incurred event costs.
The Committee of the Whole is set to vote on this and other agenda items on Monday, Dec. 16, 2024 at 6 p.m. Tune in live on Riverbender.com/video/live or the Riverbender.com Facebook page.
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