The Mumbai’s Iconic Marine Drive is going to host the Nexa P1 Powerboat Grand Prix of the Seas today. It is the first Grand Prix of the Seas recognized by the Union Internationale Motonautique (UIM), the world governing body for all powerboating activities. however the event was officially founded in May 2003 by Karachi born businessman Asif Rangonwala as the third pillar of motorsport , alongside motorcars and motorbikes. The race format will consist of 6 teams who will compete on a 5.2 specially designed racetrack on water-a first in powerboat racing. Each team will consist of two P1 Panther Powerboats,manned by an internationally reputed pilot and a navigator. On day one boats of all teams will participate in time trials on Day 1 to determine their start position for race 1 on Day 2. On Day 2 the boat with the fastest qualifying lap will start at pole position followed by all subsequent boats in descending order. The grid position is reversed for race 2, with the boat that finished last in race 1 takiing pole position, followed by the other boats in ascending order. And finally on day 3 the boats with highest cumulative points from races 1 and 2 will determine the start grid for the finale. The total points collected by both boats of each team across Saturday & Sunday will decide the winner. The total prize money is $125,000 and entry for public is free.