Hydroplane Debt Plan Being Mulled

Item: H1: ‘Looking for a long-term solution’ : Debt payment proposal from Diamond Cup organizers being evaluated, official says /David Cole, Coeur d’Alene Press

More Info: H1 Unlimited is evaluating a proposal by Diamond Cup officials describing how Coeur d’Alene’s hydroplane race officials can pay debts from last summer and make future races financially viable. Sam Cole, H1 Unlimited hydroplane racing’s chairman, said Thursday he has forwarded the proposal to H1’s attorney and its executive committee. The proposal, Cole said, describes how Diamond Cup officials like president Doug Miller can pay debts racked up last year, including a $71,000 bad check given to H1 after the 2013 event.

Question: It’s probably not a good thing to go into the next season of hydroplane racing $71K in debt, is it?