RedactedNarrative: Vessel 1 with two people onboard was heading on an east/southeast course at 6 knots of speed in Tampa Bay approximately .63 nautical miles (NM) from Tampa Bay Cut “E” Channel lighted buoy 3E (light list #22770) in about 12-18 feet of charted water depth.  Vessel 1 operator heard an audible noise, followed by sluggish and non-responsive steering.  The operator anchored vessel 1 in position 27-44.775N 082-32.270W and investigated the symptoms; discovering progressive flooding.  
  
  The operator called the U.S. Coast Guard for help. Additionally, he attempted to plug a hole he saw in the bilge near the transom and attempted to regain steering with the emergency tiller without success. The U.S. Coast Guard arrived on scene, attempted to dewater V1 and concurrently take V1 in tow without success because the vessel was no longer stable and its freeboard was only inches above the waterline. 
  
   The U.S. Coast Guard removed the operator and passenger from V1 and within minutes V1 sunk.
  Based on interviews, evidence and information gathered to date, I find the accident was caused by mechanical failure of the rudder.  
  
  The rudder sheared off during the act of sailing in adverse weather conditions, resulting in flooding of the vessel beyond the capabilities of the installed bilge pumps capacity, ultimately causing V1 to sink.  It is possible one or a combination of the following: speed, age of the vessel, level of maintenance of critical underwater components, weather conditions, and rate of turn  caused the rudder to fail and separate from V1 leaving a large hole below the waterline for water to enter.
  