History
A year after its founding in 1903, the American Power Boat Association (APBA) established a race on the Hudson River for a trophy called the Gold Challenge Cup.
The first race, in June of 1904, consisted of three 32-mile heats run on consecutive days. A 59-foot boat, Standard, was the winner with an average speed of 23.160 miles per hour.
Lightweight hulls were excluded from the race, which left out some of the fastest power boats of the day. The APBA decided to stage a second race in September, allowing lightweight hulls.
One of the lightweights, Vingt-et-Un II, won with an average speed of 24.900, setting a record of 25.367 miles per hour in the second heat.
Originally, the race was hosted by the defending champion's boat club, but during the 1920s the APBA began to hold races at a neutral site, often Detroit, and the trophy became known simply as the Gold Cup.
Regulations on the types of boats that could be entered have changed several times. From 1922 through 1928, only displacement hulls were allowed and engines were limited to 625 cubic inches in piston displacement.
The intent was to lower the cost and allow more entries, but that didn't happen and hydroplanes were re-admitted to the race in 1929, though engine displacement was still limited.
Competition was suspended during World War II. When the race resumed in 1946, the APBA lifted its restriction on engine displacement, mainly because none of the smaller engines had been produced during the war.
The unlimited hydroplanes quickly became very popular with spectators and the Gold Cup has been a race for the unlimiteds ever since.