Malaysian yacht builder Palm Beach Motor Yachts has announced that the rebuild of the former Wild Oats XI, an iconic, 30.5-metre McConaghy sailing yacht, is almost complete following five months of extensive refit works. At a ceremony attended by more than 300 guests in Sydney, Australia, the yacht was officially rechristened Palm Beach XI.
Works have been 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 set out to "redefine what's possible for a 20-year-old Supermaxi on the world stage", and has been completed in collaboration with Juan K. Naval Architects, McConaghy Boats and North Sails.
Redelivery is imminent, with the yacht due to make her racing debut at the 80th Rolex Sydney Hobart Yacht Race on 26 December, going up against five other Supermaxis for the line honours trophy.
“It’s a full-circle moment,” said Richards. “I’m deeply grateful to the Oatley family for their amazing support and friendship over the past 26 years. Twenty years ago, we made Wild Oats XI a benchmark in global ocean racing. To now carry that legacy forward as Palm Beach XI – under new ownership and as a global brand ambassador for Palm Beach Motor Yachts – is both an honour and a responsibility I’m proud to lead.”
Palm Beach XI now features a "next-generation" appendage package, 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; and radical C-Foils to optimise lift and provide enhanced righting moment for reaching and downwind sailing angles.
Richards emphasised how the works on Palm Beach XI have been a "huge team effort": “You can only take on a project like this with an experienced and trusted team. Many of our team members have worked on this yacht on and off for the past 20 years. The last couple of months, they worked around the clock to make this dream a reality – it was great to see their passion and enthusiasm for Palm Beach XI. Really incredible! Now we are very much looking forward to seeing Palm Beach XI competing and performing at the highest level.”
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.
Following her December debut, the regatta winner will compete at the next three Rolex Sydney Hobart regattas as well as the Newport (Rhode Island) Bermuda Race, the Transpacific Yacht Race from Los Angeles to Hawaii and the Hamilton Island Race Week in 2027.
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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