The most famous endurance race in powerboating - the Cowes-Torquay-Cowes (CTC) - will be reintroduced to the sporting calendar in 2008.

Powerboat P1 Management Ltd, organisers of the Powerboat P1 World Championship, will host the event over the Bank Holiday Weekend in August (22-24).

The CTC is an open event, organised in association with the British Powerboat Racing Club (BPRC) and up to 80 craft are expected to participate.

The boats will start and finish in Cowes and the front runners are expected to complete the course in less than four hours - weather permitting.

The CTC was the very first offshore race in Europe and is recognised as one of the toughest challenges in world powerboating, comparable with the Indy 500 and 24 Hours of Le Mans.

Jim O'Toole, Managing Director, Powerboat P1 Management Ltd, said: "In formulating our 2008 P1 World Championship calendar, we decided for financial and operational reasons not to stage a Powerboat P1 British Grand Prix of the Sea in Cowes.

"That clearly will be disappointing for our UK-based P1 community.

"P1 respects tradition and heritage in our sport and resurrecting the historic Cowes-Torquay-Cowes is an ideal way of meeting the requirements of our UK-based P1 teams, manufacturers, sponsors, and media as well as the 1.5m UK powerboat enthusiasts, for many of whom the P1 event has become an annual pilgrimage.

"The event enjoys iconic status in world powerboating and we believe many racers from various classes and markets around the world will be unable to resist the opportunity to participate in this legendary race."