The 2008 Round Britain Race was launched moments ago at the Earls Court Boat Show.
The announcement was made by Lord Beaverbrook, son of keen powerboat racer Sir Max Beaverbrook who was also instrumental in setting up the first ever London Boat Show at Olympia, on the main stage.
He said: 'I hope this event will bring powerboating back into the public eye where it deserves to be.'
Organiser Mike Lloyd took the stage to introduce MBY writer Ray Bulman, who he described as the 'greatest authority on writing about powerboating in the world'.
Ray asked those in the hall to remember that most of the exhibition boats' designs had been inspired by powerboating.
'This race will start a new era for offshore racing,' predicted Ray.
Tim Powell, who was second in the first ever 1969 Round Britain Powerboat Race and organised the second in 1984, was also present.
The race takes place in June 2008.
Jeff Hunton (GBR) - Production Class (MC1) -
Anthony Toll sea trialling Apache 41 -