COEUR d'ALENE - H1 Unlimited publicly announced Sunday that the 2014 racing schedule will include a return to Lake Coeur d'Alene this summer for the Diamond Cup.

H1 Chairman Sam Cole said the organization is delighted to be returning to Coeur d'Alene, with the city's history in unlimited hydroplane racing. He said the 2013 race was very well received by the fans and the community.

"I am glad we were able to resolve the issues that were standing in the way of announcing the 2014 Diamond Cup and I speak for all our owners, race teams, officials and fans when I say we are looking forward to returning to beautiful Coeur d'Alene (for) Labor Day weekend," Cole said.

"We are very excited to have the final contract in place for the classes that we will have in Coeur d'Alene in 2014," said Doug Miller, of the Diamond Cup organization.

With everything finalized with H1 Unlimited, Miller added, "We can move forward with the planning of Diamond Cup weekend and we look forward to growing the event and becoming a regular stop on the H1 Unlimited tour."

The races are scheduled for Aug. 29-31, Miller said. He said 30 to 32 race teams will be in Coeur d'Alene for the event.

He estimated that 50,000 to 52,000 people attended last summer's races.

He said race organizers collected revenue from 15,000 of the spectators in 2013, and they hope to double that this summer.

If they can reach 30,000, he said, "That will right the ship from 2013 and for 2014."

Debts piled up after last summer's races.

Diamond Cup organizers hope to make money through sponsorships, ticket sales, paid boat access to log booms along the race course, and corporate hospitality areas, in which corporations purchase an area for groups of employees and others.

He said Napa Auto Parts will have one corporate hospitality area for 200 people both Saturday and Sunday of the three-day weekend, Miller said.

"It will be a lot smoother and more organized" this year, Miller said.

He acknowledged there were a lot of first-year speed bumps.

"We have to do a lot better job on perimeter set-up," making sure people who enter the viewing area pay up, he said.

Miller said multiple sponsors are already on board, including Super 1 Foods, Napa Auto Parts, Centennial Distributing, Kroetch Land and Timber, Knight Construction and Knight EZ Dock.

The news that Coeur d'Alene was on the schedule was first privately announced Saturday at the annual H1 Unlimited awards banquet.

"When the news was announced at the banquet, it was well received by the audience," said Steve Montgomery, a spokesman for H1 Unlimited.

Miller said tickets will go on sale in a week through TicketsWest. He said they are being sold now at Super 1 Foods stores in Idaho and at Inland Northwest Bank branches.