Organizers of the Coeur d’Alene Diamond Cup hydroplane race say the event needs more sponsors.

With sponsorship deals still in the works, the race has been rescheduled from this summer to Labor Day weekend of 2013, said Doug Miller, Diamond Cup president.

Consolidating efforts to next summer has several advantages, Miller said. It gives adequate time to sign new sponsors, as well as ensuring that logistics run smoothly. It also means that H1 Unlimited hydroplanes, the world’s fastest boats, will compete in an actual race, not just an exhibition as was planned for 2012.

“These events rely on key sponsors, which use the races not only for high-profile advertising, but also as VIP events for their top clients,” Miller said.

He said a number of sponsors are already in place, but not enough to reach the level of funding needed to stage the Diamond Cup.

“We are inviting local and regional brands to join us at the $25,000 sponsorship level,” Miller said. “This is an opportunity to be affiliated with what will inevitably become one of the highest profile events in the Northwest.”

Hydroplane races were previously held on Lake Coeur d’Alene from 1958 to 1968, drawing some of the largest crowds at any event in Idaho’s history. Long-term, organizers envision that the new races will bring millions of dollars to the greater Coeur d’Alene area, similar to the economic impact from the successful Lamb-Weston Columbia Cup in the Tri-Cities.

“We’re pleased that Coeur d’Alene is moving to an official H1 tour race for 2013,” said Sam Cole, president of H1 Unlimited. “I can tell you that Coeur d’Alene’s H1 designed course is an outstanding racing venue. We look forward to supporting this event.”