The LLC had a competition and marketing model that worked. It had TV. It had a premier catamaran class with an average of 10 boats at each race. It had several other classes each with many boats. The racing was close and exciting with multiple winners and champions. It had pretty good events. It was being covered by the industry magazines. It had two hours of TV for each race on SPEED. It had a number of industry sponsors and manufacturers participating. It had a marquee series sponsor in GM. It also had a long range plan that included classic offshore racing and other events.
If it were not for some stupid, expensive business mistakes by inexperienced upper management (i.e. me) it actually could have been profitable, or at least self-sustainable for many years.
I still think it can be made to work again. But it would require a boycott proof premier class where the sanctioning body owned the boats.
It would also require a substantial investment of capital from a major corporation or outside investment group who a) was interested in making money; b) believed they could make money, or at least believed it was worth taking the risk. Common sense says that without these things the sport will simply continue to be a fun hobby for several dozen people, their family and friends, which is not so bad in the scheme of things.