I'll bite....

Ok, there were two situations going on with the last scheduled Worrell 1000.

First the 1,000,000 dollar "prize"
The idea was that each team would put up 20k that would go into an "escrow account" (cough cough) and then be paid out to the top teams at the completion of the event. Do the math and you'll see that this required 50 teams to put up the cash. First... there are not 50 teams out there with a real chance to win the event, so how would you get them to put up the money?. Second, a team with a 20k budget is in the upper 10% of the racers, so for any team to come up with an additional 20k after their expenses... not gonna happen.

Now, the other issue.... this is a hot button topic.
Mike promised the teams; a new boat, a truck and two hotel rooms for the race. That's 13 days + 2 or 3 days before the race to get ready. Cost? Only 5k, a deal at twice the price (you know the old saying a/b sounding too good to be true). Sadly, all the sailors that ponied up the dough got swindled out of their money. I know quite a few had judgments against Mike, but... blood from a turnip.

I think he offered their money back at 150% towards the 2004 race, but as we all know that didn't and never was going to happen.

It's sad too b/c it was a great event. Nothing like two night legs, the north Atlantic and Cape Hatteras to put hair on your chest ;-) I'd do it again... with a better skipper and better dry suit.