Oh man, I think people are so inredibly tired of talking about what happened but I'll get you started on your quest to find more information:

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Was the prize money paid out for the worrell 1000 cat race?


No. The race never happened. The entrance fees were never returned to those who paid up.

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What went wrong in this event if anything?

Well I guess nothing went wrong with it since it never happened. See point above.

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Is there a good link to find out more, on it all?

Type in "Worrell 1000" or "That bastard still has my money" into the search engine on this site and you'll find plenty.

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Does this event still happen or what has happened?

No, the tybee 500 has replaced it as the premier distance event on the east coast. http://www.tybee500.com