Bristol resident and Outerlimits Offshore Powerboats owner Mike Fiore died Tuesday night after suffering serious injuries during a high-speed boat race Saturday, the family has announced. Mr. Fiore died from complications after surgery on Sunday to repair several broken bones he suffered when his racing boat flipped as high as 50 feet in the air as he approached the finish line in a race in Missouri Saturday. The boat was reportedly clocked traveling 179 miles per hour just before the crash. "The entire Outerlimits family is devastated by the loss of our friend and leader of our company," Frank Sciacca, General Counsel of Outerlimits said in a release. "Mike's love for high speed boating was only out matched by the love for his wife, three young children and his family. We hope all understand the family's need to grieve for their loss privately."

Mr. Fiore was serving as the throttle man with driver Joel Begin at the Lake of the Ozarks Shootout in Missouri on Saturday. As the pair were approaching the finish line of the one-mile race, the bow lifted, sending the boat airborne. Flipping end over end, the high-speed boat landed upside down before quickly righting itself.

Both were taken by ambulance to Lake Regional Hospital, where Mr. Begin was treated and released. Mr. Fiore was soon airlifted to University Hospital in Columbia, Mo. He was reportedly responsive Saturday night and Sunday morning before undergoing surgery Sunday.

The family is expected to release details on funeral arrangements later this week.