The roar of racing power boats could be heard across Falmouth Bay next year if plans to bring the sport to Cornwall are successful.

Events promoter Paul Mitchell of Mitchell Racing was at Falmouth Town Council on Monday to set out his proposals for a P1 Powerboating event in the town which he claims could bring tens of thousands of people into the town next June.

Mr Mitchell told councillors that the event could draw in as many as 50,000 spectators to the town, although he is currently searching for £20,000 to set it up.

He said: "Everybody wants to come and race in Falmouth. At other race events we generate between a 30,000 and 50,000 crowd, and a TV audience of 300million. We would very, very much like to put Falmouth on the map of international power boat racing."

Mr Mitchell's plans started about 18 months ago with a proposal to bring 12 racing boats and 25 jet skis to race off Swanpool Beach, but he said he now had interest in an extra event for fast catamarans at Malpas and a long distance race from Falmouth to the Isles of Scilly and back featuring "big offshore twin engine" boats.

He said: "Falmouth is the ideal place to do this, but it all needs money to push it through. We are looking for money from sponsorship and would like you to help with our efforts."

Part of the attraction, he added, was the ability of crowds to line up along the promenade and Gyllyngvase beach where the race circuit could be kept close to shore."

Councillor Alan Jewell asked if the event would be annual, and Mr Mitchell said it would, and he had discussed a possible date at the end of June or beginning of July when the town does not have other events planned and it could "give a lift" to tourism.

He also said the event could have an educational side, and the design team would like to work with the university and Falmouth Marine School, showing the boats and discussing the engineering.

He added that with about 60 boats in the town, the teams would display them on the Moor between races for the public to see.

Councillor Steve Eva said it "seems like a great idea" but as it all depended on finances, and the head of the town's finance committee was absent from the meeting. He suggested that a discussion of finances for the event be scheduled for the next committee meeting.

He also asked if the £20,000 figure was for everything, and was told "that would make the event happen."

Mr Mitchell said: "We would be looking to do it across a week: racing, and music throughout the town."

Mr Eva added: "It's something I would like to support in principal."