The naming rights had been sold to Captain Morgan in 2011, but Lion Nathan, while impressed with the exposure it had received in return for its support, had significantly reduced its sponsorship this year, and had now pulled out completely.
Pak'nSave Kaitaia, which had been a major sponsor in both cash and kind, had done likewise, preferring to give its support to a schools and community/charity events.
"Pak'nSave has been a very good supporter of this event, and it's not for me to question the decisions the sponsorship committee makes regarding where its support should go, but not recognising the Bonanza as a community event is really the crux of the problem," Mr Stewart said.
"We stepped in in 2010 because we saw the competition as the biggest community event in the Far North, which was worth saving because of the money it brought into the local economy and the exposure it provided, nationally and internationally.
"It seems that a lot of people don't share that view. The perception is that we organise this event for the money we can get out of it, when in fact it costs us money.
"In hindsight the worst thing we did was signwrite our vehicles. Both are financed out of our businesses, but people seem to think we've made so much money we can spend it on ourselves. We don't and we haven't. We even pay ($37,000 last year) for the four-wheel-drive we give away as a spot prize. Nothing comes free.
"If we were making a fortune would we be asking people to do things for nothing? Our volunteers are special, community-minded people who don't want to see this event disappear."
The organisers were especially disappointed by Te Hiku Community Board.
"We applied for $10,000 to help pay for Ahipara Surf Rescue, which patrols the beach throughout the contest," Mr Stewart said. "The community board, which has said it will help fund events that benefit the Far North, decided that the Bonanza wasn't as beneficial as one-day events like Te Houtaewa Challenge and the Mangonui Waterfront Festival.
"They told us that the main reason they would not support us was because $20,000 payments were made to me and Dave Collard. Do they know that other events have paid managers and organisers? Are board members paid for what they do? And do they risk bankruptcy if they aren't successful at what they do?
"This competition owes us a lot more than we have ever received, but regardless of that, shouldn't the board support an event that brings upwards of $1.8 million into the community, not counting the local spend or national and international exposure for the Far North? An event that spends every penny it can in this community?"
Ironically the Bonanza had played a leading role, with support from Northland MP Mike Sabin, in persuading the Minister of Internal Affairs to change rules governing spot prizes to enable such events to survive.
Mayor John Carter and his predecessor Wayne Brown had been strongly supportive of the tournament, while John Robinson, general manager of Summit Forests, which provided the venue for the competition headquarters, had made a generous offer but much more was needed.
"We need a naming rights sponsor who will commit for at least three years; we can't afford to be looking for major new sponsorship every year," Mr Stewart added.
"Without volunteers this competition would be stuffed, but we need sponsorship too, and time is running out."
