Titans of Mavericks organizers file for bankruptcy

The organizers of the Titans of Mavericks Surf Competition have filed for Chapter 11 bankruptcy.

MAVERICKS, Calif. (KGO) -- This year's Mavericks Big Wave Surf Contest may be in jeopardy. ABC7 News has learned the competition's organizers Cartel Management Inc. and Titans of Mavericks LLC filed for Chapter 11 bankruptcy yesterday.

The popular competition at Half Moon Bay draws some of the biggest surfers from around the world every year and was just about to introduce a women's heat.

Cartel had offered more prize money and made it a digital media event, offering a live stream online so people could watch from a safe distance.

LINK: Bankruptcy documents filed by Mavericks organizers

Our media partner the Mercury News spoke with an official with Cartel Management, the official said they will release more information this morning.

Mavericks has held surf contests since 1999 at Pillar Point, when conditions are ideal for waves 25 feet or higher.

PHOTOS: Mavericks big wave surf competition 2016

Ben Wilkinson, left, surfs beside Greg Long who wipes out on a giant wave during the third heat of the Mavericks surfing contest Friday, Feb. 12, in Half Moon Bay, Calif.none

Nic Lamb surfs a giant wave during the finals of the Mavericks surfing contest Friday, Feb. 12, 2016, in Half Moon Bay, Calif. Lamb won the event.none

Surfer at Titans of Mavericks surf competition off coast of Half Moon Bay, California, Friday, February 12, 2016.none

Nic Lamb surfs a giant wave during the finals of the Mavericks surfing contest Friday, Feb. 12, 2016, in Half Moon Bay, Calif. Lamb won the event.none

Surfer at Titans of Mavericks surf competition off coast of Half Moon Bay, California, Friday, February 12, 2016.none

Surfer at Mavericks surf competition off coast of Half Moon Bay, California, Friday, February 12, 2016.none

Surfer attempts to ride wave at Titans of Mavericks surf competition off coast of Half Moon Bay, California, Friday, February 12, 2016.none

Surfer at Mavericks surf competition off the coast of Half Moon Bay, Friday, February 12, 2016.none

Surfer wipes out at Titans of Mavericks surf competition off coast of Half Moon Bay, California, Friday, February 2, 2016.none

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