In 2009, the non profit foundation that owns the schooner Virginia, the Virginia Maritime Heritage Foundation, ran out of cash. Burdened with $1.6 million of debt, they were forced to lay up the schooner. Now, the outlook for the schooner is still unclear but there are hopeful signs. The foundation has raised $100,000 to buy new masts, booms and spars, for the schooner to get the ship ready for OpSail 2012, coming to Hampton Roads in June. The new masts are expected to be installed in April. The Virginia Maritime Heritage Foundation is currently negotiating with Nauticus, a maritime museum in Hampton Roads, about using the Virginia as the centerpiece of a community sailing center.

Schooner Virginia to get new masts by OpSail