Good idea or.....?

[flaming]

https://www.yachtsandyachting.com/news/209963/New-Formula-Foil-Ocean-Racing-Championships

For £75k you get a year's racing in a Figaro 3. Including a load of channel races and a transatlantic. I'm assuming that costs such as flights etc are not included, but otherwise does that seem like a decent price for that amount of racing?

 

[bbg]

https://www.yachtsandyachting.com/news/209963/New-Formula-Foil-Ocean-Racing-Championships

For £75k you get a year's racing in a Figaro 3. Including a load of channel races and a transatlantic. I'm assuming that costs such as flights etc are not included, but otherwise does that seem like a decent price for that amount of racing?

Certainly an intriguing idea. I actually think it sounds like pretty good price if the boats are all prepped before and it is a "step on and sail" deal. Would the boats be delivered to each race start? 10 races plus other sailing split amongst 5 or more people ... it should interest some people. It would interest me in the right circumstances.

It could even appeal to larger groups, where there might be 8 people, but none of them can do all the races.

Could also appeal to a sponsor - fixed price for the boat.

It will be interesting to see if the idea flies. So to speak.

 

[lw395]

£75k, +VAT, seems like quite a lot of money for 10 months' racing that can be fitted into weekends and a normal day job's holiday allowance.

 

[bbg]

£75k, +VAT, seems like quite a lot of money for 10 months' racing that can be fitted into weekends and a normal day job's holiday allowance.

Compare it with the cost of buying, mooring, insuring and preparing a 10 m race boat (including sails, electronics etc.) and depreciation.

I think it isn't way out of line.

 

[Foolish Muse]

I thought that the 3 doesn't even have proper berths, just that sleeping seat inside. How will a crew handle that on a long voyage? And the head bonkers inside will be even more of a pain when there are two crew below at once, ouch!

 

[lw395]

Compare it with the cost of buying, mooring, insuring and preparing a 10 m race boat (including sails, electronics etc.) and depreciation.

I think it isn't way out of line.

At the end of the day, IMHO it depends on the quality of racing you get, which is all about the other people on other boats. For us amateurs, it's best not to go up against the pros except to learn, and avoid racing against pay'n'play numpties who we can beat easily.
£75k would fund a year's sabbatical and some serious racing. Or it would fund a transat race if you're more about man vs ocean than man against man?
If £75k + VAT is value, then it's fairly obvious why numbers are declining in the sport.

 

[bbg]

I thought that the 3 doesn't even have proper berths, just that sleeping seat inside. How will a crew handle that on a long voyage? And the head bonkers inside will be even more of a pain when there are two crew below at once, ouch!

Pipe costs aft either side.

I'm not sure how long the voyages will be, but with a crew of four or five, there will only be one or two below decks at any given time

 

[lw395]

Pipe costs aft either side.

I'm not sure how long the voyages will be, but with a crew of four or five, there will only be one or two below decks at any given time

Because at the end of a cross-channel race, they'll be in a hotel?

 

[bbg]

Because at the end of a cross-channel race, they'll be in a hotel?

There will probably be a few spinnakers to sleep on. Personally I quite like the spartan interior of race boats. I'm happy to sleep on a thin piece of foam or a pipe cot. Many a time I have slept on bare fibreglass with a lee cloth.
I would never think of these boats in the same way as I would think of a "typical" cruiser-racer. If I were going to race one of these, it would be with absolute minimum weight and minimum comfort. That is part of the program and (for me) part of the appeal.

 

[zoidberg]

One answer is to go 'Jestering'.....

There would be pleny change from one's £75K...... but that would disappear in the pub!

 

[lw395]

There will probably be a few spinnakers to sleep on. .....

I don't want any winch-monkey riff-raff sleeping on my spinnakers.

 

[bbg]

I don't want any winch-monkey riff-raff sleeping on my spinnakers.

That's the great thing - they wouldn't be your spinnakers!

The more I think about this, the more it sounds like a good deal. If it includes a transAtlantic race, including insurance and return shipment - it is a bargain.

 

[{151760}]

Reading the article, that's £75000 per team, not individual. That's stunningly good value, isn't it?
I think 'no discards' is a big mistake if you're trying to attract amateurs. An amateur team will almost certainly miss a race or two, through cancelled holiday time, illness etc., ending their championship. It also makes the transatlantic race compulsory, which may not suit amateurs for various reasons.

 

[lw395]

I would have thought the transat was the point of it?

Value depends on what you're comparing it with?
It looks cheap compared with Clipper, but it's a lot of money if you have to earn it.
If it delivers value to sponsors, then it becomes a whole different game.

How much is it to buy one of these boats?

 

[doug748]

How much is it to buy one of these boats?

According Ancasta e 155,000 plus tax, I bet that is the basic boat, so probably plus sails etc.

The 15K looks good value, a great way for a youngster to see if they have what it takes. However, looking on the miserable side, it does not take much imagination to see a set up like this going belly up half way through the series.

 

[lw395]

According Ancasta e 155,000 plus tax, I bet that is the basic boat, so probably plus sails etc.

The 15K looks good value, a great way for a youngster to see if they have what it takes. However, looking on the miserable side, it does not take much imagination to see a set up like this going belly up half way through the series.

It occurs to me that we're not talking about anywhere near 100% utilisation of the boats for this series, which creates opprtunities for interim charters?
I assume the boats might be owned by other parties, as happens with many charter boats?

£15k might be a bargain if you're the skipper or on a top-end team, it might look dear if it makes you the fifth man on a boat of no-hopers.

 

[flaming]

According Ancasta e 155,000 plus tax, I bet that is the basic boat, so probably plus sails etc.

The 15K looks good value, a great way for a youngster to see if they have what it takes. However, looking on the miserable side, it does not take much imagination to see a set up like this going belly up half way through the series.

I was thinking about the financials, and I'm struggling to see much meat on the bone for the organisers.

 

[lw395]

I was thinking about the financials, and I'm struggling to see much meat on the bone for the organisers.

It depends on where the capital comes from to buy the boats.
From £75k, there is clearly £8k for the prize fund, sails, maintenance, admin, depreciation, insurance, comms, costs of starting and finishing races.
I think it would depend on who is putting up the capital and what the residual value of the boats would be.
Beneteau don't change their figaro models very often, so maybe the boats can be expected to hold reasonable value. But even if we guess £15k for depreciation and the same for sails?, add in the equivalent of one full time employee to fettle each boat and put it in the right place each week, the money soon goes.
I suspect the idea is that if it takes off, latecomers will pay big money to join up?
Or maybe the profit comes from getting other use out of the boats?