Dead in the water: Malta’s €400,000 yacht still moored after two years

A second-hand racing yacht purchased by the Maltese government for €400,000 has yet to compete in a single race, more than two years after it was unveiled with great fanfare, raising serious questions about public spending, accountability, and Yachting Malta’s management.

The 50-foot Cookson yacht, Viva Malta, was inaugurated in December 2022 at a glossy ceremony held at the Malta Maritime Hub in Marsa. Sports Minister Clifton Grima hailed the vessel as a game-changing investment that would “create opportunities” for local sailors to compete in elite international regattas.

But over 24 months later, the yacht remains moored, unused, and incurring thousands of euro in costs. According to sources within the Malta Sailing Federation, the boat has been undergoing “upgrades” since its acquisition. This is apart from berthing fees, which cost thousands of euro.

Despite this, Viva Malta has not been used for its purpose. Organisations working to train youth in sailing have been rebuffed when requesting the use of the boat. The sailing boat sits at the marina, abandoned.

Yachting Malta Ltd—a government-backed public-private entity formed in partnership with the Royal Malta Yacht Club—oversaw the boat’s acquisition. Yachting Malta, together with the Malta Sailing Federation, was supposed to have set up its racing team.

Yet the organisation has failed to disclose basic details about the transaction, including the identity of the seller or the possible involvement of intermediary brokers.

The connecting factor between Yachting Malta and the Malta Sailing Federation is Michael Mifsud.

Yachting Malta CEO Michael Mifsud (who also serves as President of the Malta Sailing Federation) admitted the boat was still not operational and has ignored criticism on the lack of progress and transparency.

What was billed as a strategic investment in Malta’s sporting future resulted in yet another case of mismanagement and political posturing. Despite the involvement of SportMalta—the national agency responsible for the promotion of sport—the vessel still lacks a trained crew, a race calendar, and a coherent plan.

The Malta Sailing Federation’s own website states they had a 4-year plan starting in 2021. The four years have come and gone, but the boat hasn’t yet left its berth.

As it stands, Viva Malta remains docked, gathering rust rather than accolades—a floating monument to bureaucratic inertia and questionable priorities.