The $40,000 boat, the John Adamson, was being transported on a trailer from the rowing sheds beside the harbour to a safe storage yard before being taken to Lake Waihola for the Wilson Regatta today.
Otago Boys' coach Fred Strachan told the Otago Daily Times that the truck trailer carrying the boat was driven by a parent.
"The trailer hit a post and the bow broke off the boat," Strachan said.
"It is a critical part of the boat and will be difficult to repair the boat to the same standard for racing."
The insurance on the boat is not expected to match the replacement value of the boat, estimated at between $45,000 and $60,000.
"We will need to borrow boats from the North End club for the South Island secondary schools championships at Lake Ruataniwha and the Maadi Cup regatta at Lake Karapiro," Strachan said.
The Otago Boys' rowing club also suffered a financial blow when its rescue boat hit a submerged rock on the river. Damage is estimated at $7000.
