Sponsorship blow for Newquay's surf festival

Spectators on Fistral beach on the first day of the Boardmasters festival Credit: Ben Birchall/PA Wire

The biggest surfing event in the country has suffered a major blow after failing to raise the prize money that attracts the world's top stars.

The Boardmasters Festival held in Newquay every August has been a feature of the world professional circuit. But this year a lack of sponsorship means it can no longer offer prize money of around £100,000. Organisers say it will be replaced by a contest for British surfers.