HONOLULU — Quicksilver has announced that it will not be sponsoring this year’s iconic big wave surfing competition known as “The Eddie.”

Quicksilver, Red Bull and the Aikau family had previously agreed to sponsorship terms for the world-famous event until Saturday, when new terms that were introduced could not be met.

“When the family declined to surrender control of the Eddie for five years on the terms Quiksilver was demanding, Quiksilver terminated negotiations,” the Aikau family stated.

For more than 30 years, Quicksilver and the Aikau family have partnered to put on the contest at Waimea Bay, which only occurs when there are consistent waves of at least 30 feet (9 meters) in the bay during a three-month period. The competition has only happened nine times since it began in 1984.

It is named after Eddie Aikau, who was a champion big wave surfer and Hawaii lifeguard.

The status of the contest going forward is unknown, the family stated. It will negotiate potential contracts with other sponsors.

“After a long, hard negotiations with the Aikau’s, there just wasn’t enough time to put on a proper contest,” Glen Moncata of Quicksilver said. “Even though the parties were unable to reach an agreement, Quiksilver remains open to continuing discussions for a 2018-2019 event and beyond so that all parties can better prepare for the event.”

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