UPDATE: Oyster Bay Festival Full-Steam Ahead

UPDATE: After a funding crisis threw the annual Oyster Festival into turmoil, multiple local businesses and groups have pledged to help save the decades-old event.

OYSTER BAY, NY — When it comes to the free annual Oyster Festival, the show might not go on. The event, now in its 36th year, dubs itself the largest waterfront festival with more than 150,000 attendees.

But organizers were forced to dispel rumors that the event, scheduled for Oct. 19-20, was canceled due to the loss of a major sponsor. Organizers wrote in a Facebook post that the festival committee plans to meet to come up with a plan to "save the event."

Joseph Saldino, the town supervisor, weighed in with a Facebook post of his own, blasting the unnamed sponsor for backing out and pleading for more local businesses to help.

"Shame on a local sponsor for withdrawing their support of the Oyster Festival," wrote Saladino. "In an effort to save the event, the Town of Oyster Bay will provide $20,000 in-kind services (no taxpayer money) to the organizer (Oyster Bay Charitable Fund - a nonprofit organization which is part of Rotary Club of Oyster Bay)."

Saladino added: "We need local companies to step up to the plate with support."

The festival is put on by the Oyster Bay Rotary Club and funded by the Oyster Bay Charitable Fund. Each year, attendees are treated to activities, live entertainment, ships, talented artisans, pirate shows, midway rides and, of course, a popular oyster eating and shucking contest. There's also a food court where volunteer chefs and culinary experts cook and serve unique oyster, clam and other seafood offerings.

Proceeds from the food court sales benefit more than two dozen local charity groups, the organization wrote on its website. Proceeds from carnival rides and merchandise sales are also donated to additional charities supported by the rotary club.

While admission is free, some activities in the festival are not.

A spokesperson for the festival said they have no comment. A news conference is planned 11 a.m.Monday at Teddy Roosevelt Park.