Malaysian yacht builder Palm Beach Motor Yachts has announced the acquisition and rebuild of the former Wild Oats XI, an iconic, 30.5-metre McConaghy sailing yacht now named Palm Beach XI.
Works are being led by the yard's founder and CEO Mark Richards, who has skippered Palm Beach XI for the past 20 years, including in nine Rolex Sydney Hobart victories. The rebuild, which will "redefine what's possible for a 20-year-old Supermaxi on the world stage", will be completed in collaboration with Juan K. Naval Architects, McConaghy Boats and North Sails. Redelivery is scheduled for this year, ahead of the 80th Rolex Sydney Hobart Yacht Race.
Richards described Palm Beach XI as "the ultimate team effort". "We have worked collaboratively to bring this vision to life in a very short time frame," he explained. "This project embodies everything Palm Beach Motor Yacht stands for – our relentless passion for innovation, powered by a team culture that thrives on discipline, precision and shared purpose."
Palm Beach XI will have a new appendage package installed, representing "the most significant transformation" in her two-decade career and designed to return her to the front of the Rolex Sydney Hobart fleet. Upgrades include a new, deeper keel fin and bulb to reduce drag; advanced upwind daggerboards for sharper pointing ability, radical C-Foils to optimise lift and provide enhanced righting moment for reaching and downwind sailing angles.
In 2014, Palm Beach XI broke records by winning the Rolex Sydney Hobart Yacht Race line honours for the eighth time, boasting a time of two days, two hours three minutes and 26 seconds.
All learnings from the rebuild will be applied to the yard's new motor yacht range, the flagship of which, the 27.6-metre Falcon, was launched this October.
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