Edwards could lose home over £1m debt

Yachtswoman Tracy Edwards faces losing her home over debts of £1million.

Edwards, 41, who received an MBE after leading the first all-female around-the-world crew, has already faced one claimant in the High Court and has three more hearings to come.

She is said to be facing claims for unpaid wages of £500,000 from members of her crew and support staff dating back two years.

Her largest single debt, a £500,000 loan from Yorkshire publisher Andrew Pinder, is understood to have been secured against the Berkshire home she shares with her mother Patricia, a multiple sclerosis sufferer, and fouryearold daughter MacKenna.

The root of her current troubles lies in her decision in 2002 to pay about £1.1 million for a 110ft catamaran, Maiden II, using her own money, the loan from Mr Pinder and cash from a building society.

Despite enjoying enormous success in the yacht, Edwards struggled to find a sponsor to help with the estimated £4.5 million annual running costs.

A £38million deal to organise two yacht races to Qatar failed to solve her problems.

To complete her troubles, up to 20 members of her crew and staff want their unpaid wages, although Edwards claims the estimate of £500,000 is "totally wrong".

She told the Telegraph: "We have all suffered financially longer than we anticipated but we will keep going."