Palm Beach XI, formerly Wild Oats XI, returns to Sydney to Hobart with major upgradesJasper BruceAAPThu, 25 December 2025 5:41AMCommentsComments
Palm Beach XI is spruiking groundbreaking upgrades aimed at making the most successful yacht in Sydney to Hobart history better than ever.
But her closest competition remains skeptical the 100-foot supermaxi, formerly Wild Oats XI, is truly in contention for line honours in her long-awaited Hobart comeback.
Since last racing the Hobart in 2022, the champion yacht has been sold by longtime owners the Oatley family and undergone a complete rebrand and refurbishment.
New owner Mark Richards, who skippered Wild Oats XI to a record-breaking nine line honours wins, has fitted her with a new keel, bulb and daggerboards in the hope of reducing drag and maximising righting moment.
For good measure, Richards renamed her after his high-end boatbuilding business Palm Beach Motor Yachts.
Press material described the upgrades as “the most significant transformation in Palm Beach XI’s two-decade career” in October.
“It’s more about what changes we haven’t done, really. It’s been crazy,” Richards said.
“Owning the boat ourselves and being able to do exactly what we want to do has made a big difference.”
But the extensive modifications have curtailed Palm Beach XI’s preparation for the 80th running of the iconic yacht race that begins on Boxing Day.
As of Christmas Day, the crew had sailed together just three times, one of those after the official race briefing on Christmas Eve.
“We’ve spent a lot of time on the boat, but it’s been in the shed,” Richards quipped.
The mammoth upgrade project left the crew to push back the yacht’s christening earlier this month; she hit the water for the first time on December 10.
Palm Beach XI has also opted against fitting the revolutionary c-foils that she’d planned to carry down to Hobart to further reduce drag through the ocean.
“We’re just not quite ready, which is a real shame,” Richards said.
Of the equal record-high six 100ft supermaxis racing this year, Palm Beach XI is the only one that has not yet taken any part in the Bluewater Pointscore – the series of off-shore races that culminates in the Hobart.
Palm Beach XI completed her mandatory qualifying passage independently last weekend, coming back into Sydney Harbour after 24 hours at sea.
The abrupt preparation has not fazed the sailing legend in charge, though.
“Doing our 24-hour qualifier, it was amazing how everything came together,” Richards said.
“The boat itself is in great shape. We’re looking forward to the challenge. There’s zero concern whatsoever.”
Richards is bullish the boat’s upgrades have made her better than ever.
“That’s why we’ve done them,” he said.
“We’re pretty confident the upwind performance will be better than we’ve ever had before. It’ll be interesting to see how we go against these big guys.”
Matt Allen, co-skipper of line honours heavyweight Master Lock Comanche, doubted whether Palm Beach XI could push for line honours.
The upwind conditions forecast look set to favour reigning line honours champion LawConnect, while Comanche is consistently rated the fleet’s most impressive supermaxi.
SHK Scallywag 100 is also considered a chance to break through for the first line honours win of skipper David Witt’s career.
“(Palm Beach XI) is very good going downwind and very good in light airs, but I think the heavier bump upwind is probably going to slow them down a little bit,” Allen said.
“They might come into calculations a bit later on in the race, it depends on how many miles we get on them in the earlier stages of the race.
“You wouldn’t write them off, but it’s probably not their ideal forecast.”
But for Richards, the 2025 Hobart is only the beginning now that Australia’s most famous yacht is back in the water.
“It’s going to be very exciting in the future, not just in this race,” Richards said.
“We’re looking forward to a couple of years campaigning and showing what we’re all about.”
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