The world-renowned Mavericks big-wave surf contest appears to be in jeopardy as organizers seem to be drowning in debt, NBCBayArea.com reported. The contest's two main organizing entities, Cartel Management Inc. and Titans of Mavericks LLC, filed for chapter 11 protection yesterday. The surf contest is well known for the huge waves at Pillar Point Harbor, near Half Moon Bay, as well as the worldwide call for the top invited surfers to show up within 48 hours.The most recent financial setback was a $1 million lawsuit Cartel lost in Los Angeles late last year. It was not related to the Mavericks contest. The dispute over Cartel assets revealed other problems, including unpaid bills, unpaid contest permits and a lawsuit filed by former sponsor Red Bull earlier this month.
