Mavericks: the big wave surfing break has always attracted investors | Photo:

The World Surf League (WSL) has publicly declared its interest in buying the Titans of Mavericks or, alternatively, in getting the permit to run a competition at Half Moon Bay.

The invitation-only contest had been put for auction with bids starting at $1 million, but after the initial reviews, four interested parties decided not to submit an official bid.

Cartel Management - the company behind Titans of Mavericks - canceled the public auction, and announced that it was engaging parallel negotiations with two potential buyers.

However, the big wave surfing event has other problems to deal with. For example, who owns the San Mateo Harbor District use permit, the document that allows organizers to run the show? Is it Cartel or Titans of Mavericks?

The truth is that both companies owe more than $2.5 million to over 20 creditors, and the World Surf League knows that. Nevertheless, the pro surfing organization expressed the desire to run a contest at the prestigious Northern California surf break.

"We are exploring whatever opportunities exist, and we will only do this as a partner with the community. We put in an unsolicited separate offer," confirmed Jonathan S. Marshall, Chief Operating Officer of WSL.

Cartel Management has already rejected the first offer, but the WSL believes there is still space and time for further negotiations. The idea is to run a Mavericks contest included in the 2017/2018 Big Wave Tour season.

"If there is an opportunity for the WSL to acquire those assets we will. If they opt to sell those assets to another party, the WSL will reach out to another party to see if a partnership could be formed," Dave Prodan, WSL spokesman, told The Mercury News.

"If there is not a deal to be made with Cartel, the WSL will still pursue any other available avenues with regards to obtaining the correct permits to run an event."