As a sailor who has lived on & near Lake Michigan all my life I can tell you from reading books about the Great Lake Ship Wrecks that many went down, old, new, large and small. Many have never been found but just recently two were found off the West Michigan coast. Many ship captians fear the "lakes" worse than the oceans due to the lack of manuvering room, they have to ride the storms out.
My father rode out a storm in a 16' fishing boat in the mid sixties that had recorded 25 - 30 foot waves, many fisherman were lost. The wind and storms come up quick and you better reduce sail or head to a safe harbor. The Lakes are cold as well, just last week Michigan was only in the low 50s. A person doesn't last long in cold water.

Hope all is well with the crew. Remember the tri that flipped over a few years ago in the same race. "Caliente"