Ironman competitor dies - A 39-year-old father of three from Victoria passed away due to a suspected heart attack while competing at a triathlon.

Peter Farlecas' body was pulled out from the water of Mooloolaba beach on Queensland Sunday, after a nearby onlooker spotted him face down in the waves.

The event's medical team tried to revive the Ironman competitor who dies on the beach. CPR and other life-saving procedures were performed in front of friends and family, but after half an hour of attempt the IT consultant was declared dead at the scene.

The incident dubbed as the Ironman competitor dies, occurred during the swim leg of the Ironman 70.3 Sunshine Coast Triathlon, 9News reported. The race involved a 1.9km swim followed by a 90km bike ride and a 21.1km run.

Farlecas, who was racing with around 15 other colleagues from an IT systems availability business, was said to have undergone a six-month training in preparation of his first event. His colleagues reportedly only found out about his death as they crossed the finish line.

Ironman Asia Pacific CEO Geoff Meyer reportedly told ABC Radio that the Ironman competitor who dies suffered a suspected heart attack during the swim stage of the competition.

 "It's been a real tragedy we have had a death in the swim today," Mr. Meyer said."I've been with the family all morning. We've been helping them as much as we possibly can."

Despite the tragedy, the race was not stopped and "went on as normal" according to Mr. Meyer. "There's going to be a lot of sadness around, family and friends and we are trying to help all the individuals through this really trying time," he said.

Cops investigated on the Ironman competitor dies incident, but have ruled out foul play, Daily Mail has learned.