FROM STAFF REPORTS
MARBLE FALLS — After 26 years, the LakeFest drag boat races appear to have come to a close.
Marble Falls/Lake LBJ Chamber of Commerce officials stated that they received a notice from the Lucas Oil Drag Boat Racing Series that it would be proposing some significant changes for the 2018 event.
The chamber, which sponsors LakeFest, and Lucas Oil were unable to reach an agreement during negotiations regarding the proposed changes.
“We were aware of the process Lucas Oil began last year with regards to restructuring their drag boat series, but we were hopeful we would be able to continue this long-standing relationship and keep LakeFest a viable option for Lucas,” said Patti Zinsmeyer, the chamber executive director. “It boiled down to being a business decision.”
With no agreement, Lucas Oil will not be sanctioning drag boat races on Lake Marble Falls in 2018, officials said.
LakeFest, which was held in early August, could draw between 12,000 and 15,000 people during the three-day event. The chamber of commerce built the annual drag boat races into a popular and successful event.
LakeFest even earned Lucas Oil Drag Boat Racing Series Event of the Year for 2017.
“Our community has hosted this fantastic event for 26 years now,” Marble Falls Mayor John Packer said. “We have been working with the chamber to ensure that LakeFest continued even with the downtown redevelopment. While unfortunate, I respect the decisions made by everyone involved.”