LOUISVILLE (WHAS11) -- A high-speed boat race said to be as much about the action on the water as the activities on the land, and next month it's making its Louisville debut. The inaugural Louisville Regatta Grand Prix will be at Waterfront Park from August 18-20 this year.

Organizers said the event is a similar idea to the Madison Regatta, but the Louisville show will feature more of a “Nascar” style of boat racing. It’s an event the Waterfront Development Corporation has been trying to get for the last 10 years.

"It’s a party on both venues and its exciting for us," David Karem said.

Karem is the head of the Waterfront Development Corporation. He said the first ever Louisville Regatta Grand Prix will bring international attention to the city's front yard.

With racing on the Ohio and a sportsman show in the park, they promise there will be something for everyone. The event will also feature a BBQ Challenge, music festival, and beach party.

The race is expected to bring in crowds from across the globe and will be recorded and then televised on ESPN3.

Between the parties across the weekend, event organizers are comparing the impact to other big waterfront festivals such as Forecastle and last year's Flugtag.

Louisville Mayor Greg Fischer said, "We hear the same thing from people no matter if its gold, boxing, cycling, powerboat racing- people say they love coming to our city."

The three-day event has committed to the city for the next three years, as organizers are certain the Kentuckiana community will embrace the race and all it has to offer.

Here is a rundown of the events scheduled for the weekend.