According to the San Pedro Sun, so far, the Coast Guard has determined that it is a British racing vessel. The find was made on evening of Thursday August 23rd north of Rocky Point while Fisheries Department employees, attached to the Bacalar Chico Marine Reserve on northern Ambergris Caye found it.

At first the vessel was believed to be a submersible craft - and the location suggested that it may have been used in drug trafficking. But the Sun quotes Lieutenant Commander of the Belize Coast Guard Elton Bennett, as saying that the Anti-Drug Unit determined that the race craft was not could not be a drug vessel because of its size and the small cargo space.