The future of the famed Mavericks big-wave surf contest has hit more turbulence.
Contest organizers, Cartel Management of Los Angeles, canceled an auction planned for Thursday to sell its assets, including a contest permit issued by the San Mateo County Harbor District. The company said there were no actual bidders, despite what they initially called widespread interest.
Cartel filed for bankruptcy earlier this year, eventually sinking this year's event.
The cancellation creates more confusion on how a future contest will be put together.
Harbor commissioner Sabrina Brennan said she had no confidence Cartel will salvage the situation, saying, "This is a strategic retreat because no one bid on what appears to be a worthless asset."
While Cartel scrambles for new options, it still faces other legal challenges by the Harbor District, sponsor Red Bull and contest founder Jeff Clark.
Mavericks is an international contest held when top surfers are given 48 hours to get to Pillar Point when organizers deem the waves big enough for a top level competition.