All "old" boat racers rich?

[MarylandMark]

Just wondering....

Re-reading and absorbing some info on some posts by our "Icons". The era of boats being shuttled all over the world, $150K+ in 20 year ago money ($215K +/- in 2009 $$) just to set a speed record (not minimizing "just setting a record", just saying not many willing to drop that kind of coin only to set a record these days), racing for hundreds of miles at a time, new boats cutting edge boats every year, countless crew members and entourages to keep man and machines running and so on.

So, did the racers get rich racing, or did the rich go racing or is that where the saying "to become a millionaire being a boat racer, start as a multi-millionaire" came from?

That and to see some of the long time professional racers around here, life is pretty good and then you see some of the newer guys being burnt out and/or scraping coins to get back on the starting line by the next race.

[Chris]

If you listed some names we could address their bio's individually.

Tom Gentry was a wealthy real estate developer from Hawaii. Al Copeland was a restaurant franchise owner. George Morales, Ben Kramer, Sal Magluta and a whole batch of others had wealth from questionable sources. We've had lots of guys come and go. Alcone was in the direct marketing business in California. Hired Jerry Gilbreath, won everything, got bored and moved on. Kjell Rokke came here from Finland and did somewhat the same. He was a wealthy industrialist, but I've heard the stories told that his boat racing distraction caused a downturn in his business. Dave Callan was another guy. made a bundle in telecom, sold his biz and started dumping big money into it. My guess is that one day he decided the dollars going out didn't mesh with the fun coming back and he moved on.

Boat racing has always had it's share of "tourists". Guys who became fascinated, played for a while and moved on. It has also had it's share of guys who provide services to these folks. Hired guns that take care of the boats, manage the team and often throttle the raceboat. I don't know of any of those guys that ever got rich. Some made an OK living. Some leveraged it into larger businesses. Some did little beyond living a "lifestyle" for a while.

[THEJOKER]

Big bucks was behind all of that and it was not from prize purse.

[T2x]

Actually Kjell Rokke owned one of the largest providers of generic fish in the world (fishcakes, fish sticks, fake crab legs.....etc).

Al Copeland started Popeyes, bought Church's, got a golden parachute....and all his toys...as part of his buyout from the board and was then brought back in for a second bite at the apple after sales tanked in his absence.

Matt Alcone was on Forbes list at one time....major advertizing and promotional holdings. Forest Barber was, I think, in the medical supply business. Augie Busch.....was....Augie Busch :p Bob Erickson's family were major stakeholders in Valvoline.

Reggie's family has the closest thing to a generations long baronial pedigree that one can attain in Eastern North Carolina.

Going further back Bill Wishnick owned Witco chemical, Bobby Rautboard owned American Photo Copy Equipment Company (APECO). Ogden "Dinny" Phipps was old money and owned champion thoroughbred horses. In tunnel boat racing the Briggs brothers (Geoff and Tim) were descendants of the Briggs and Stratton empire. In Europe you have everything from coupon clipping members of this or that royal family, to major clothing and industrial magnates. Jean Pierre Fruitier owned a major fruit juice company in France....and Didier Pirone was a retired Ferrari Formula One driver..... shall I go on?

and then.......

You have the so called "bad guys". Who were very much like all of the above in their various approaches to racing....And, for obvious reasons, they probably had more b*lls in that they didn't simply risk their lives during a few weekends each year.

T2x

P.S. Don't forget Baron Horatio Schwartz, a (fictional) organized crime con man turned ersatz euro trash member?....... or a (clever) composite of all of the above?

[MarylandMark]

I was sure T2x was going to say, "No, I was the only Rich out there". :sifone:

[Dude! Sweet!]

I always liked the quote that's been ascribed as often to Briggs Cunningham as it has to Roger Penske (I'm going with Briggs though)...

It's very easy to make a small fortune in racing, you just need to start out with a large fortune.

[cosmic12]

Has there been any news lately about the Baron or the whereabouts of the Schwartz Craft ?:)

[rainmn]

Can't leave Rocky Aoki off a list like this. (Benihana restaurants)

[phragle]

If he's fictional, who bought the hors d'oeuvres before the fistfight last week??

[BBB725]

Also Brazilian goldminer, Eike Batista

[Shockwave]

Could be worse .
I was talking to a guy in Ft Lauderdale that was having work done on his
165' Yacht . He said " boating turns billionairs into millionairs ".
Poor Bastard .

[HateTank]

The only way I know to make a million racing anything is to start with 2 million.....LOL

[Mange]

Finland has never been a good fisherman kennel..
Kjell Inge Røkke is an Norwegian guy :)

[Brownie]

I know that there is a lot of money in offshore racing, I put a lot in there.........

[T2x]

Has there been any news lately about the Baron or the whereabouts of the Schwartz Craft ?:)

Actually he's going after the Vee bottom record......


on land.


:D

[DollaBill]

"wana be a millionaire in the boat business kid? Start with at least 2 or 3 million and you're sure to have a million left when you're done"

[Brownie]

I think the total purses for all the offshore races from 1956 to 1964 was zero, or thereabouts. Never a purse in Miami-Nassau.

[THEJOKER]

It didn't take long to figure out I had picked the wrong sport.........paycheck for placing 3rd in a professional class...$ 800.00.

[JupiterSunsation]

I think the ticket to any racing career is sponsorship for the ride (boat, car, motorcycle, whatever) and sponsorship for the driver (sell Wheaties, underwear, beer, whatever).

Dale Earnhardht Jr, isn't exactly filling the trophy case and if he had to support his car/crew based solely on his on track winnings he might be pushing a go cart around a dirt track in the midwest......

[Slandrew]

:USA:In Freeport as a kid my idol Guy lombardo was big with race boats he was wealthy TV sow host every New Tears Eve!Don't know what the prize money in those days:confused: I doubt him or my Grandfather got there coin from racing there mahogony speed boats:rolleyes:In later years I was a Ghost Rider fan:bump:

[DollaBill]

It didn't take long to figure out I had picked the wrong sport.........paycheck for placing 3rd in a professional class...$ 800.00.

win 800. Spend 8000 for the weekend.

[FastDonzi]

Usually the Dinner Tab cost Twice what the Prize money was.:cuss::cheers2:

[htrdlncn]

Not just racing that thrives on the rich, its perfomance boating in general,
how many people you see spend 2-300k for a 38-46 sportboat, 20k for a trailer then 60-80k for a monster truck to pull it, insurance,fuel,travel expenses just to go to Poker runs where there is no payouts because it isnt a race.
Aint no middle class American throwing around $500k to go play poker on the water there sparky..
:D

[pullmytrigger]

I think the ticket to any racing career is sponsorship for the ride (boat, car, motorcycle, whatever) and sponsorship for the driver (sell Wheaties, underwear, beer, whatever).

Dale Earnhardht Jr, isn't exactly filling the trophy case and if he had to support his car/crew based solely on his on track winnings he might be pushing a go cart around a dirt track in the midwest......

Its all about sponsorships/endorsments......all toll Jr made 20 million last year.....the most of all Cup drivers

[DollaBill]

Usually the Dinner Tab cost Twice what the Prize money was.:cuss::cheers2:

hell, I don't even want to start adding up tabs from the past 10 years of poker runs and races. Gota be over 250K

[T2x]

In the hey day of the late 70's early 80's it used to be S.O.P. to send your best wishes back and forth from restaurant table to restaurant table using bottles of Crystal and Dom P. It was not unusual for the champagne tab alone at dinner to top a grand.......per table. I have also told the story of the World's richest wet tee shirt contest.......held at Saugatuck, Michigan in 1982. It wound up with a $25,000 first prize.....raised in a matter of minutes...... from about 10 race teams, including yours truly.

By the way ....for the record......

Guy Lombardo( Originally from Ontario) had a "Big Band" Orchestra ( Guy Lombardo and his Royal Canadians). He used this to fund his racing exploits....up to Unlimited Hydros.... The "Tempo" boats were his. Later his band appeared on New Years Eve telecasts and other entertainment type TV programs. He also owned "Guy Lombardo's East Point House" restaurant In Freeport, L.I. The headquarters for the old Around Long Island Marathons.

He was very instrumental (pardon the pun) in advancing the sport of powerboat racing in the U.S. and Canada.

T2x

[lucky strike]

I was in a small Italian restaurant in Ft Lauderdale the night before the Le Club race in 1980. One of the open class guys from South FL was having dinner with about 10 people.
He ordered one of everything for every boat racer in the place & paid for it in green.

[Top Banana]

Guy Lombardo( Originally from Ontario) had a "Big Band" Orchestra ( Guy Lombardo and his Royal Canadians). He used this to fund his racing exploits....up to Unlimited Hydros.... The "Tempo" boats were his.
T2x

Once upon a time, one of these Tempo boats ended up on the used boat market...it was an Unlimited with a two man cockpit. A used car dealer in Tampa, Florida bought the boat and had it on his lot as a conversation piece.

One day a guy stopped by and was looking at the boat. The used car dealer realized who the interested party was and immediately offered to put the boat in the water and take him for a ride. The guy accepted and the boat was put in the water.

Of course, now the dealer had this guy as a captive audience. He began to spin a tale of how great Unlimited racing was and what a fantastic vehicle it could be for marketing.....yada, yada, yada. The guy was sold and asked ......Now what?

History was written that day.....Bernie Little was the car dealer and August Busch Sr of Budweiser fame was the guy.......you know the rest of the story.

[Chris]

Great story Charlie.

And... glad you weighed in. Any story about guys making millions in boatracing surely must include you ;)

[BDiggity]

It's funny you brought this up.

I happened to be going through the history pics on the Pantera website this morning & came across this one http://www.panteraboats.com/pantera_boats_historypg2_8.html?photoID=21&page=1

I was thinking $50 in 1978 for winning a race doesnt seem like a whole lot to support the team.

[Brownie]

Geez, Charlie, you know that it is my job to set the record straight. Bernie Little was giving rides in the aluminum 4 place unlimited, I think it was ex-Hawaii Kai, at Mike Gordon's restaurant on 79th St Miami. He charged $90 a pop. I went twice the same day. The rest of the story is good. Sorry.....

[THEJOKER]

I quit when I realized for me to keep up I had to buy 4 Harleys custom painted the same color as the boat , the girls , the custom tatoos , the truck , the trailer , the t-shirts , the hair , the tent , the scooter , the banner , the Prevost , the...................

[T2x]

Geez, Charlie, you know that it is my job to set the record straight. Bernie Little was giving rides in the aluminum 4 place unlimited, I think it was ex-Hawaii Kai, at Mike Gordon's restaurant on 79th St Miami. He charged $90 a pop. I went twice the same day. The rest of the story is good. Sorry.....

The story I always heard was that Bernie and August met in College. Whatever, Bud was berry berry good to Bernie.

[T2x]

I quit when I realized for me to keep up I had to buy 4 Harleys custom painted the same color as the boat , the girls , the custom tatoos , the truck , the trailer , the t-shirts , the hair , the tent , the scooter , the banner , the Prevost , the...................

Nah....you quit when you scared yourself......or maybe you scared the TV viewers...I get confused..... :D

[T2x]

It's funny you brought this up.

I happened to be going through the history pics on the Pantera website this morning & came across this one http://www.panteraboats.com/pantera_boats_historypg2_8.html?photoID=21&page=1

I was thinking $50 in 1978 for winning a race doesnt seem like a whole lot to support the team.


The flip side of this is that I used to get "appearance money" at some Mod U tunnel races in Canada ....As I recall it was about a .50/mile for travel....in addition to about $250-$3000 for prize money..(ranging from about 5th through first place). A good weekend definitely generated a profit, especially when you consider that the boats and motors belonged to Mercury or a Mercury dealer. I miss those days.....

[DAREDEVIL]

I quit when I realized for me to keep up I had to buy 4 Harleys custom painted the same color as the boat , the girls , the custom tatoos , the truck , the trailer , the t-shirts , the hair , the tent , the scooter , the banner , the Prevost , the...................

Why can't i be that smart ????:confused:


BECAUSE I LOVE IT , even when i am broke .....like always !!!! LOL

LETS RACE !!!!:sifone:

[Bobby Sheer]

The flip side of this is that I used to get "appearance money" at some Mod U tunnel races in Canada ....As I recall it was about a .50/mile for travel....in addition to about $250-$3000 for prize money..(ranging from about 5th through first place). A good weekend definitely generated a profit, especially when you consider that the boats and motors belonged to Mercury or a Mercury dealer. I miss those days.....


A bunch of us use to put $ in the pot to give T2x travel money to show up at the races for his wit and wisdom and interviewing skills.

[MarylandMark]

Money well spent

[POWERPLAY33]

I have a signed pic and a letter circa '88 from Bob Kaiser hanging in our showroom. Any Idea if he's still around?

[Top Banana]

Geez, Charlie, you know that it is my job to set the record straight. Bernie Little was giving rides in the aluminum 4 place unlimited, I think it was ex-Hawaii Kai, at Mike Gordon's restaurant on 79th St Miami. He charged $90 a pop. I went twice the same day. The rest of the story is good. Sorry.....

Brownie......I thought we agreed that the truth of the matter would never interfere with a good story.

I'm sticking with the version I heard, the water around Mike's restaurant by the 79th st causeway would be too rough to let an Unlimited sit there for long.

Speaking of that restaurant what ever happend to that incredible collection of photos of boat racing greats, that were signed and framed and hung all through out the restaurant???

[Top Banana]

Great story Charlie.

And... glad you weighed in. Any story about guys making millions in boatracing surely must include you ;)

Yes...boatracing is a road to wealth for sure!!!! Back in the mid 70's I won a race out of Gloucester Mass. First prize was something like $600.

I took the check home and cashed it and then realized that this money could very easily be gone in a heartbeat with nothing to show for my team's great effort out on the cruel ocean waters of New England.

So, I went down to the local watch dealer and bought myself a nice new Stainless Steel Rolex Submariner with date. Even had enough money to pay the taxes and get change.

Fast forward a few decades, I bought new the exact watch for my son for his 40th birthday a few years ago....this time the price was over $4,500.

Now.....If I had only taken all my race winnings and bought Rolexes and just held them for investments.......I could cash them all in now and get enough to pay for a........ brand new set of Herring props or a new #8 drive from Mercury.

[POWERPLAY33]

Hey Top Banana, I saw a letter to Flying Magazine Mar 10. Said Charlie McCarthy... you the same guy?

[phragle]

Yes...boatracing is a road to wealth for sure!!!! Back in the mid 70's I won a race out of Gloucester Mass. First prize was something like $600.

I took the check home and cashed it and then realized that this money could very easily be gone in a heartbeat with nothing to show for my team's great effort out on the cruel ocean waters of New England.

So, I went down to the local watch dealer and bought myself a nice new Stainless Steel Rolex Submariner with date. Even had enough money to pay the taxes and get change.

Fast forward a few decades, I bought new the exact watch for my son for his 40th birthday a few years ago....this time the price was over $4,500.

Now.....If I had only taken all my race winnings and bought Rolexes and just held them for investments.......I could cash them all in now and get enough to pay for a........ brand new set of Herring props or a new #8 drive from Mercury.

You still can...everybody knows you can buy a brand new Rolex in Tijauna for $9.95 :sifone:

[MarylandMark]

So, I went down to the local watch dealer and bought myself a nice new Stainless Steel Rolex Submariner with date. Even had enough money to pay the taxes and get change.

Great choice!!

http://www.seriousoffshore.com/forums/showthread.php?t=6450

[T2x]

A bunch of us use to put $ in the pot to give T2x travel money to show up at the races for his wit and wisdom and interviewing skills.

Actually Bobby....I remember you picking up a bunch of bar tabs.......But by the time the checks arrived I couldn't read...........