Beneath the shiny new name lurks one of the most famous ocean races of all time, the mighty Ragamuffin. Ragamuffin has represented Australia more than any other single ocean racer, including three successive Admirals Cup challenges. Fantasy Rag, now owned by Jack Musgrove, sails out of the Royal Yacht Club of Victoria. It would be ironical if she won this race, since as Ragamuffin the Sydney Hobart was the only important race which eluded her.