Plug pulled on epic powerboat race

The plug has been pulled on an epic round-Ireland powerboat race which was due to start in Cork Harbour in just over three weeks.

Organisers of the Venture Cup event, launched in a blaze of publicity in Cobh last month and billed as one of most spectacular free sporting events this summer, blamed cashflow problems and the collapse of a last-ditch sponsorship deal for the late cancellation.

The race, which was to feature multimillion-euro powerboats and teams including TV survivalist Bear Grylls and male supermodel David Gandy, was also due to be broadcast to 70 countries, providing a major showcase for the Wild Atlantic Way.