David,
Too many "if's" involved. Only $4,000 to include boat, vehicle and two rooms per team for two weeks.

So it is IF the boat manufacturer only wanted a small fee for the use of the boat. (That would be really weird for an expensive, high-tech boat like that.)

It is IF Mike could negotiate really low room prices at 14 beach-resort hotels. (or whatever the number is)

It is IF Mike could negotiate really low prices on vehicles and IF he could even find rental vehicles that will allow towing a trailer, because most do not.

And what is not yet factored in is the fact that Mike or somebody would have had to pay big money to insure all these brand new boats to race in a notoriously boat-abusive long-distance race on the ocean.

Maybe Mike covered all these things in the pre-race meeting in Virginia Beach? If not, did anybody ask him?