The owner of a £15 million yacht which capsized off the coast mid-race has decided to attempt to tow it to shore.
George David, one of five crew thrown into the Atlantic after his Rambler 100 suddenly flipped over during the Fastnet race off Co Cork, has asked a local tug boat to lead the difficult salvage.
Divers hope to secure ropes to the 100 foot yacht and tow it upside down 15 miles into the sheltered Bantry Bay, where a decision can be made on what to do with the 40ft mast.
Gerry Smith, skipper of the Wave Chieftain who rescued five of the crew from the sea on Monday night, including skipper Mr David, said salvaging such a huge vessel would be a tough operation.
"It will have to be put into a position were you get up and remove the rigging and get it ready for moving," he said.
"You have a 40ft mast and with all the associated rigging. It will be tomorrow before it will be brought in."
Mr Smith took out Mr David and a dive team to inspect the wreckage and attempt to recover passports and some other personal items from the cabin.
The ocean going yacht, which was competing at the head of the renowned Fastnet Race when disaster struck, has drifted five miles west since it flipped over south-west of the lighthouse rock.
After a failed attempt to recover items from the wreckage, Mr David said: "This boat will race again. It's a good strong boat and we don't know why the keel fin let go and we'll find that out more when we get a chance to inspect it very closely.
"It's a single catastrophic event that had a bunch of consequences the way these things can have. But I think the boat will be salvaged and I think the boat will race again."