Ouch...
From SA:


"BMW/Oracle can't quite get it right either - here they blow the rig out of a new X 40 last weekend in Valencia. Apparently they stuffed the boat into a wave and dropped the rig. Here they cut the rig away and send it to the bottom of the sea. Here's a quote from one of the team members: "Sailing in Valencia last week in a new X40 cat and the front beam snapped in half and dropped the rig. We saved the boat but the tow back 4 miles to port in 40 mph winds was gay."