Grand Banks’ Palm Beach unit buys Wild Oats XI, to race as Palm Beach XI in 2025 Sydney Hobart

SGX Filings

2025/10/24

Grand Banks Yachts Limited (GBY:SP) said on Oct, 24 2025 that its subsidiary Palm Beach Motor Yachts has acquired the 100-foot Supermaxi ocean-racing yacht Wild Oats XI.

The yacht will be renamed Palm Beach XI and fitted with a new deeper keel fin and bulb, upwind daggerboards and C-foils before competing in the 80th Rolex Sydney Hobart Yacht Race in Dec, 2025.

Palm Beach Motor Yachts founder and chief executive Mark Richards, who previously skippered Wild Oats XI to nine line-honours victories in the same race, will remain skipper of the vessel.

Grand Banks added that Palm Beach XI will be unveiled at the Fort Lauderdale International Boat Show on Oct, 29 2025 and will lead a two-year global race campaign aimed at showcasing technology that can be transferred to the company’s motor-yacht range.

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