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Friday, 22 December, 2000, 14:51 GMT
Team Philips yacht lost
The trouble-hit Team Philips has abandoned hope of recovering its £4m catamaran and is withdrawing from a prestigious round-the-world race.
Skipper Pete Goss confirmed the news, saying: "This is a very sad day for all of us."
However, an extensive aerial search has failed to find the giant craft. Experts have also lost a satellite link, which had helped pinpoint its exact location. Team Philips had set sail on 2 December for sea trials to prepare for a non-stop round-the-world race setting out from Barcelona on 31 December. The crew was forced to abandon ship on 10 December after their vessel was battered by giant waves. Mr Goss told a press conference on Friday that losing the vessel was "like losing a friend". 'Dignity' But he added that sometimes you have to admit defeat. "We have done everything we can, we can look defeat in the eye with dignity," he said. "She was a wonderful boat, she embodied the spirit of the team. We chose to drive in the fast lane and accepted the consequences. "We knew things like this could happen. We have to take it on the chin. Team Philips had this fantastic short-lived brilliance - and that is all we are going to see."
It has been estimated by at least one marine expert that it could cost up to £1m to salvage the stricken catamaran. The revolutionary 120ft-long catamaran is the size of the centre court at Wimbledon. In October, it was forced to turn back 18 hours into a trial voyage to New York after one of its masts began to sway. In March, it suffered near disaster off the Isles of Scilly when part of its starboard bow snapped off. She was re-launched in September after £250,000 worth of strengthening and repairs. Mr Goss made world headlines when he turned back in a Southern Ocean hurricane to rescue fellow competitor Raphael Dinelli in the 1996-97 Vendee Globe round the world single handed race. His won the French Legion d'honneur for the rescue.
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