Annapolis 105er

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About Annapolis 105er

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  • Birthday 07/05/1965

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  1. Annapolis 105er

    NYYC One Design

    NYYC didn't buy the 20 boats for members to sail. The club bought the 20 boats to make them available for members of other yacht clubs to race, every year, in the Resolute Cup, which is an NYYC-hosted competition among yacht clubs sailed by amateur sailors. NYYC members can otherwise charter the first 20 on a seasonal basis to race NYYC regattas in Newport. Let me know when you can think of another club that spends upwards of $5 million to buy boats for members of other clubs to race on, and that doesn't count the yearly expenses of hosting the regatta. Or another club that jump-starts a class focused on amateur sailors that now has at least 39 firm orders according to Melges. Pretty easy to see this going to 100+ boats and becoming the standard for big-boat racing in North America.
  2. Annapolis 105er

    Second US Team

    If sailboat racing was only comprised of teams that were confident they had the financial resources to win, it would be a much smaller and very boring sport at every level. Pretty much everyone who wasn't already in the know on this project who watched ConCup had the same thought: hmm, these guys are good and young and gelled together quickly as a team, hope they have some future plans. And now, it appears, they do. Maybe there is a model here that could be followed by many others: be young and scrappy, under-promise and over-perform, perhaps take a chance on a design or designer, minimize infrastructure and overhead, crowdsource everything, speak to the younger generations in the sport and be in it for the long run (at least two cycles). Couldn't be more excited for them and will look for ways to support. If this isn't a team that SAers can get behind, with money and otherwise, I don't know what is.
  3. Annapolis 105er

    NYYC One Design

    This is completely false. NYYC as a club ordered the first 20, for member charters and the 2019 Resolute Cup (essentially replacing the Swan 42). NYYC members got first crack at individual orders. But anyone can buy one, which is why Melges was retained to market the boat. A number of clubs are buying one for their members so they have a full-time boat to train on for the Resolute Cup. Bitch about NYYC all you want but the club is doing extraordinary things for the sport in the US these days, all in a very inclusive way.
  4. Annapolis 105er


    Watched it for that reason among others but details were scarce. Sounds pretty definite. TFE said he spent an hour on the phone with a lead person this morning confirming details. The person apparently gave TFE permission to use his name but TFE did not disclose and said to contact him directly for details. Made the point that it was an all American team, including all designers and crew. Did not mention yacht club but confirmed that the new team is different from the one TFE had been mentioning before, a West Coast syndicate that pulled back once the AC75 design was made public. Will be interesting to see who it really is. My guess is West Coast tech money (Siebel?) with North backing, no idea on boat designer. TFE made the odd comment that yacht clubs should be reaching out to him if they wanted to be the partner club for the team, kind of surprised that hasn't already happened. I suppose could also be Don Wilson and Chicago YC given past interest in hosting the Bermuda cup.
  5. Annapolis 105er

    Team NYYC

    Mr. Fauth and Terry spoke at the NYYC annual meeting last night, reported lots of progress, still lots more to do but very encouraging. Overall concept is “win and defend,” meaning create a multi-generational team that both wins the current edition and seamlessly rolls in to defending the next. Some very exciting announcements coming up that will broaden the team and its base of support. Club is all-in and I think the team will soon start attracting support from the broader US sailing community.
  6. Annapolis 105er

    Why Circolo della Vela Sicilia?

    Can anyone shed some light on why CVS was chosen by Luna Rossa as their club, as opposed to another Italian club? Absolutely no disrespect to CVS intended but I have been in Sicily for the past few weeks and the island does not strike me as a hotbed of yacht racing. Could it be that, just as Taormina was chosen for the recent G7 meeting (over Florence) to raise Sicily's profile with tourists and help the economy, LR hopes to boost Sicily's economy as well? Is there a family or regional connection? Again, no disrespect intended, just interested in the backstory.
  7. Annapolis 105er

    strict class

    I think the bigger news here is Melges, not North. Interesting that Melges is reinventing as a service organization, repping a non-pro boat they did not design and are not building, but are still branding as their own. Huge change of business model for them. Interesting that NYYC made a point of going with designers, builders and class organizers that don't start with "J/" even though J has a much more successful track record designing, (contracting for the) building and growing Corinthian fleets. Is NYYC trying to support a diverse sailing industry, much like the military tries to spread contracts around? Other than North/Southern, and perhaps Mills, would anyone have predicted the companies chosen to run with this program? I love the idea but fear the inevitable change or addition of builders (with resulting differences between boats), Melges-ization of the rules (I give it one year before pros are allowed) and battle royal between NYYC and everyone else for control of the class NYYC should have kept complete control until after the 2019 Resolute Cup.
  8. Annapolis 105er

    J70, cheating and pros

    I am at the event (although not racing) and saw the photos and talked with some of the poobahs last night. It's definitely not a question of production tolerances, the mods (if not done by the same shop) all have the same design philosophy. And the list is not the full list of boats that were caught, it's just the list of those who chose to fight the measurers. Other boats just packed up and left quietly. The national and international class organizations, administrators and measurers are working really hard to do the right thing, it's great to see them getting some credit for doing so.
  9. Annapolis 105er

    AC Youth Cup

    Really disappointing lack of women on these teams. This is how the AC organization and Red Bull want to represent the best young people involved in sailing? Lousy way to attract female athletes to the sport.
  10. Annapolis 105er

    Chapter 11 for Gunboat

    Would be timely for you put this baited hook back in the water again and see if anyone who knows more than I will bite -- but the short answer is yes, there is news, within the past few weeks.
  11. Annapolis 105er

    NYYC foiling tri

    Wrong on all counts.
  12. Annapolis 105er

    Chapter 11 for Gunboat

    Here is a recent court filing that summarizes most if not all of the proceeds from the sale of old Gunboat's assets. They seem to be trying to wrap everything up by the end of the calendar year. Cash sale proceeds were roughly $2.4 million. I assume commissions, legal fees and operating costs during the bankruptcy come off the top, leaving maybe $1.5 - 2.0 million for distribution to creditors. Secured creditors will get most if not all of that. Unsecured creditors will get nothing or close to it. Peter Johnstone's DIP loan may still be in there too, and if so would be repaid first, even before the secureds. Would be interesting to see the final settle-up but I don't know if that will be made public. Commissions.Finley.App.pdf
  13. Annapolis 105er

    Chapter 11 for Gunboat

    Good question, wish I didn't have to answer it but, as you say, we have not sold the boat yet. We've had two contracts on the boat, both for prices above where the boat is listed now, but neither buyer came up with the funds to close so we didn't get to the point where their deposit was at risk. In other words, they didn't close because they didn't have the funds, not because the boat failed survey, etc. The bankruptcy hasn't helped, of course. Potential buyers have wanted to see whether the company would survive, whether other 55s would be on the water with them and, most importantly, whether there would be a service and support organization in place going forward, aside from the Gunboat family that has always been there for us informally. With the new owners of Gunboat, increased visibility of the 55 and addition of Soma and others to the company team, we're experiencing increased interest in the boat. Gunboat is fielding literally scores of inquiries on new and existing boats, hits on our listing are up 4x month-over-month and buyers are making plans for the boat shows. So, like everyone in the family, we're optimistic going forward. The new motto for all of us is "make Gunboat great again" -- inside political joke for the American crowd.
  14. Annapolis 105er

    Chapter 11 for Gunboat

    It's not possible to lump the "55 owners" into one group and make statements about whether or not they are happy with the new situation. There are really multiple groups of 55 owners. 5502, 5503 and 5504 were all completed before the bankruptcy. As a result of the bankruptcy, they lost warranty coverage but at least they got completed boats out of the situation at or close to the contract price. All of these owners attended the gathering hosted by the new owners of Gunboat a few weeks ago in Newport and are happy that the company and brand is going to survive and thrive and that good people have been hired for the US operations, both sales and service. 5505/5701 was taken out of the Gunboat factory by its owner and completed down the road at Croswait Composites, largely by people who used to work at Gunboat and with a senior member of the Gunboat family as project manager (he's now going to be part of the new US operations team). That's the boat that will be shown by Gunboat at the Newport and Annapolis shows. She has the same hull and deck as all other 55s but otherwise is a completely custom boat, very performance oriented. This owner made the best of a bad situation and my guess is he too is happy with the new Gunboat. There is another 55 (5507 or 5508, I think) being completed in Wanchese, alongside the one-off 78 that was also being completed at the time of the bankruptcy. Both of these boats are being completed by a company that was set up by the owners to complete the boats once it was decided to wind down operations at Gunboat. The owners are great people and it will be good to see them finally on the water, albeit after having waited too long and paid too much for their boat. The remainder of the roughly 15 people who put down deposits for 55s or had 55s in construction are the ones who were hurt the most by the bankruptcy. Some people had put down deposits but their boat had not started construction, so they have nothing. Some people were in the middle of construction, own their partially-completed boat and are still deciding how to proceed. Other people (due to a change in Gunboat's build contract) were in the middle of construction but don't actually own the boat, despite having paid lots of money to old Gunboat. It will be interesting to see what happens to these boats, hopefully some will still be completed. The owners of 5506 onward were significant creditors of old Gunboat. I heard that GLY worked with at least some of them in order to win the bidding for Gunboat's assets but don't know the details. But based on my experience so far with the new Gunboat team, both in the US and France, I would be very surprised if those deals were not being honored. The new team has gone above and beyond in their engagement with and support of the entire existing Gunboat family and we're all much better off than we were under the old situation. In the end, we all know where the fault really lies, and my guess is those stories and details, dating back to the earliest days of Gunboat, will never be fully aired. But if Clean ever decides to write a tell-all expose book, it would be a bestseller.
  15. Annapolis 105er

    Chapter 11 for Gunboat

    Just to clarify, the boards were an issue on the 60 series that was built in China by Hudson. To Peter's credit, my understanding is he repaired all of them at the North Carolina yard at significant expense (to Peter/Gunboat, not the owners) -- one of the reasons for the bankruptcy and the subject of the lawsuit between Gunboat and Hudson (which I heard was settled but don't know details). Foilman/Phil is correct that there have been no issues on the 55 blades. 5505/5701 went with the daggers to take the weight of the centerboard structure and lifting mechanism out of the boat but that and other mods required a re-orientation of the interior of the boat.