WATERFORD (WWJ) – The Quake On the Lake is dead in the water.

The annual hydroplane race, held for 17 years, will not return this summer to Pontiac Lake in northern Oakland County.

The American Power Boat Association (APBA), which sanctions the event, confirmed the decision by the local race committee, although a representative was not available for comment to WWJ on Tuesday.

Reasons behind the decision are not clear, but indications are financing and permitting were factors, according to reports.

The Quake was considered one of the fastest one-mile races in America, with speeds up to 175 mph in the straight-aways. In the years the competition has been held in Waterford – 19 world speed records have been set.

The race was a premier summer event for Oakland County that attracted over 10,000 race fans to the area in late July and was big fundraiser for local charities.

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