BREAKING: Record holder retires from Sydney to Hobart
SAILING: Race record holder Wild Oats XI has been retired at sea from this year's Sydney to Hobart, after the super maxi looked set to break its 2012 race record.
It's believed a hydraulic issue was the reason for Wild Oats XI's withdrawal.
Race officials say the boat was officially withdrawn from the race at about 8am this morning.
The yacht has turned around and is on its way back to port.
Wild Oats XI got off to a horror start in Sydney Harbour yesterday afternoon, before it quickly found its feet and soared to the lead overnight.
But an issue with the "hydraulic ram” forced the crew to turn around.
Just moments ago, Wild Oats XI crew confirmed all crew were safe and well in a Twitter post.
"We can confirm we have had to retire from the race- most importantly all crew onboard are safe. More details to follow,” it read.
Perpetual Loyal is the new line honours leader, and is approximately 290 nautical miles out from the finish.
Sunshine Coast sailor Bob "Robbo” Robertson earlier lead the handicap honours on his 40-foot Beneteau, Bravo, but has since fallen back through the field.
More information as it comes to hand.