SEATTLE -- Bill Cahill, owner of Beacon Plumbing, threatened to end his sponsorship of Seafair Wednesday if Jean Theoret and the U-37 boat was not determined the winner of Sunday's Chevrolet Cup.

By the afternoon, when Cahill talked with KIRO 7’s Gaard Swanson, he said he would never pull the plug on his support for racing.

“This is a sport I love -- that I’ll stand for the remainder of my life,” Cahill said. He went on to say, “No sour grapes here.”

Cahill published a news release Wednesday that urged officials to review the call and overturn the decision. He cited how much his company means to the sport and what could potentially happen if Beacon Plumbing was no longer a part of it.

"We don't want to discontinue our sponsorship of the U-37, Seafair or the Seafair Pirates," said Cahill. "However, we will not stand for the unjust decision on Seafair Sunday."

Cahill went on to say in the news release, "In a sport that was dying, we have tried to bring life to the sport again and restore the tradition of Seafair along with Billy and Jane Schumacher. Any team, fan, sponsor and yes, any credible official, knows who won Sunday’s race."

SURVEY: Do You Agree With Officials' Decision?
DISCUSS: Outcome Of Chevrolet Cup

Wednesday afternoon, American Boat Racing Association Chariman Sam Cole issued an apology to racing fans and media concerning the way the warnings and penalties were handled during the race's final heat, but offered no insight as to what the outcome of the pending Miss Beacon Plumbing owners' appeal would be.

READ IT: Hydro Officials Issue Apology To Fans, Media

Sunday's final heat of the Chevrolet Cup at Seafair might be one of the most controversial finishes in the boat race's history.

Currently, Dave Villwock in the Miss Ellstrom Elam Plus is the champion even though the Miss Beacon Plumbing team appeared to be the hands-down winner in Sunday's race.

In the final heat, Theoret and the U-37 Beacon Plumbing boat seemed to be the runaway winner until officials said he was off-plane and slapped him with a one-minute penalty that sent him spiraling into fifth place.

The off-plane rule says that after the one-minute mark to start a race, a driver must keep their boat gliding on the water's surface. Officials said Theoret allowed the boat's nose to go into the water a second time after an initial five-second warning.

The rule, which has been enacted within the last year, is a relatively new one in hydroplane racing.

KIRO 7 Sports Director Gaard Swanson spoke with Mike Noonan, the chief referee who was working Sunday's race and made the call against the Beacon Plumbing team.

EXTENDED INTERVIEW: Chevrolet Cup Referee Mike Noonan

Noonan reviewed KIRO's race footage with Swanson Monday, the first time he had seen the alleged infraction since the race.

Noonan pointed out where he said the Theoret went off-plane a second time after Theoret and other drivers received a five-second warning.

VIDEO: Beacon Hydro Owners, Race Official Review Footage

After reviewing the tape, Noonan said he stands by his decision.

Swanson also spoke to Miss Beacon Plumbing owners Bill and Jane Schumacher as they reviewed the tape Monday.

The Schumachers said they disagree with the ruling and still want to fight the decision.

"The credibility of the sport is what's in jeopardy," said Bill. "We won the race hands down and it needs to stay that way."

Currently, the appeal is in the hands of the American Boat Racing Association, whose decision should be announced sometime this week.