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It means much the same as it does in financial markets. It’s a measure of risk. And risk in sailing terms is measured by the distance between you and your competitors across the race course, perpendicular (at right angles) to where you’re going.
The greater the leverage, then the greater the risk of gain or loss as the wind shifts or the strength of it increases unevenly. That old basketball cliché - stay between the man and the hoop - applies equally to sailing. It’s hard to get past someone who’s directly in front of you – although not impossible - but in general, staying on the direct course to the mark, with your competitors directly behind you, is about as safe a tactical situation as you can come up with in sailing.
A new tactical initiative for the 2008-09 race, gives the crews one opportunity on each of the longer legs to have their location hidden from position reports and the public for 24 hours (increased from 12 hours from Leg 5 onwards).
In order to deploy a StealthPlay, a team must call Race Headquarters within 30 minutes of the position report being released. The play will last for the next 12 hours and the boat’s position will not be shown on the three scheduled reports normally released within that period. The boat will become visible again at the next position report after that period.
Race HQ will continue to monitor each boat’s progress every 15 minutes for safety reasons, but this information is not made public until the StealthPlay is over.
Position reporting times will be every three hours at 1000, 1300, 1600, 1900, 2200.