Devon-based powerboat team Racing Silverline in action in 2009

Negotiations are in the final stages to bring a round of the Powerboat P1 World Championships to Penzance Promenade.

A meeting will be held between the Council and the Championship organisers in the next fortnight to discuss the event, scheduled for 22-23 May.

It is possible the event could be held in the region for the next four years.

Penzance's chamber of commerce chairman Mike Waters said: "Businesses are extremely excited about the event and the spin-offs for Penzance as a whole."

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