MARBLE FALLS, Texas -- Police say a man was killed in an accident Sunday when his racing boat crashed while competing in the Lucas Oil Drag Boat Races during Lake Fest at Lake Marble Falls.

Mike Fry was fatally injured in the crash which occurred at around 10:30 a.m., according to the Marble Falls Police Department.

Rescue crews on hand immediately pulled Fry from the wreckage and began treating him. He was taken to Baylor Scott & White Hospital in Marble Falls where he was pronounced dead.

A moment of silence was held at the event after word of Fry's death.