Wide Bay Australia Bundy Thunder has been cancelled further to an announcement recently issued in Bundaberg.
In a joint statement the organisers of the Wide Bay Australia Bundy Thunder Powerboat Race, the Rotary Club of Bundaberg West and major sponsor Wide Bay Australia Ltd, have confirmed that the event will no longer proceed.
Mr Phil Saxby, spokesperson for the Rotary Club of Bundaberg West, said the decision was made after reviewing the results for the 2011 event where the Club had managed to break even but going forward was faced with increasing financial risk from high operating costs such as fuel and insurance.
Mr Saxby said a significant factor in the decision was the potential for the Club to suffer a loss due to high costs and declining support from the community with regards to spectator numbers.
He said the Rotary Club, as a service organization, had operated the event since 2000 as their major fundraising project and over the years had been able to distribute significant returns to the Bundaberg community with donations to local organizations.
'Unfortunately with the possibility of the event making a loss, we cannot risk our Club’s finance and the other important activities in which we are involved in our local community.'
Wide Bay Australia Ltd has been naming rights sponsor of the event since 2001, progressively increasing its level of support as the event developed.
Mt Hancock confirmed Wide Bay Australia had committed to major sponsorship for an amount of $87,000 for this year’s event which had been scheduled in November. However, he said he fully understood the reasoning behind the Rotary Club’s decision.
He said Bundy Thunder had raised hundreds of thousands of dollars for the local community either directly by Rotary or through associated organizations such as the Leukaemia Foundation. He said the event had also provided a substantial boost to the Bundaberg economy and increased the region’s profile nationally.
'Losing this iconic event will no doubt be a loss to our community but without continued community support these types of events are not sustainable'.
Mr Saxby extended the organisation’s appreciation to past and present Rotarians, organisers and volunteers for their commitment to the event, as well as to associated organizations including naming rights sponsor Wide Bay Australia, the Bundaberg Regional Council, the Queensland Government, the Australian Power Boat Association and competitors, the Sandy Hook Ski Club, the Leukaemia Foundation, sponsors and the media. Bundy Thunder website