/world sport
SYDNEY, Australia -- New Zealand yacht Maximus has suffered a "catastrophic failure" and will miss the Sydney to Hobart race, said owner Bill Buckley.
Maximus was forced to quit last year's race after being de-masted.
The keel of the 30-meter maxi yacht, rated a serious a contender for line honors, was damaged as it traveled from New Zealand to Australia on Sunday.
The cause of the damage is unknown, but the ship was escorted into Sydney Harbor early Monday morning to see whether it could be repaired in time for the race, which starts on December 26.
After an inspection, Buckley said that the vessel could not be made ready in time.
"We've had a catastrophic failure and we won't be doing the Hobart this year," he said.
"Hopefully we'll go back to the drawing board and work out where our failure was and why."
Maximus had to quit during last year's race after being de-masted. E-mail to a friend 
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