Derek Dunfee, Mavericks, 2008. Photo: Glaser
Derek Dunfee, Mavericks, 2008. Photo: Glaser

Random Happenings: Rights to Mavericks Event Worth Surprisingly Little

Bankrupt Cartel Mgmt gets approval to sell the whole shebang for $525k

Well, well, well. You’d think the rights to the Titans of Mavericks event, one of the world’s most prestigious big-wave contests, would cost more than $525,000 for the next five years. Especially when considering part of those rights include the required, and exclusive, permit from the San Mateo County Harbor District. But you’d be wrong.

$525k, really? That’s it? You can’t even buy a house for that in the worst parts of the Half Moon Bay area.

But last week, a bankruptcy court judge gave the go-ahead for Cartel Management, the very much bankrupt holder of the Mavs event rights, to sell the event to the WSL for $525k. Cartel owes creditors a whole lot more than that, however, so some of the creditors have balked at the figure and are objecting to the judge’s decision. “I look forward to learning how Cartel intends to proceed as a going concern and repay its creditors,” a lawyer for Cartel’s biggest creditor told the Santa Cruz Sentinel, throwing a bit of lawyer shade.

Jeff Clark’s Maverick’s Invitational group is also filing an objection to the ruling, claiming that they actually hold the rights to the permits, not Cartel, which is a claim that the judge apparently ignored.

It’s a little tangled, but looks like the WSL has a nice clear path to running the show at Mavs for the next half decade. The Big Wave World Tour has seen its event schedule whither over the past couple years, but with big shakeups reportedly coming for the WSL very soon, who knows what they may have in store for the place.