Steele Super Stock Raceboat Heading To Key West With New Owner

For the past three seasons, the Super Stock-class Steele Industries raceboats have been like a second home for members of the Maldonado family. Both Ricky Maldonado and two of his sons, Julian and Ricardo, have throttled various catamarans for team owner/driver Dominick Steele. The CEO of Steele Industries, Steele started with a 30-foot Skater, then acquired a 32-foot Legend and—in 2023—moved to a 32-foot Fazza cat, all of which were rigged and set up by the elder Maldonado.

Now Steele has sold the 32-footer to veteran offshore racer Pete Riveiro of Key Largo, Fla., and is exiting the sport. He announced his departure this afternoon in a post on the Steele Offshore Racing Facebook page, and thanked the Maldonado family and Manatee Marine Unlimited in Palmetto, Fla., where the boat was set up and maintained.

New owner Pete Riveiro and Ricky Maldonado will campaign the former Steele Industries raceboat in Key West next month. Photo by Pete Boden copyright Shoot 2 Thrill Pix.

“First and foremost, we want to thank all of our amazing fans who’ve supported us throughout our powerboat racing journey,” Steele wrote. “It’s been an incredible experience, filled with unforgettable moments and amazing connections with people and businesses in this sport.

“I’d like to give a special thanks to my brothers-in-law, Julian and Ricardo Maldonado, for introducing me to the sport—it’s been an absolute blast,” he continued. “A huge thank you as well to my father-in-law, Ricky, for guiding me along the way and wearing multiple hats to help the team succeed. And a big shout-out to Manatee Marine for all their hard work with the rigging and servicing of the boat. To the new owner, you’re getting an incredible machine—I know you’ll enjoy it.”

Steele will continue his automobile racing pursuits.

“I just stopped being passionate about offshore racing,” he explained in a subsequent interview earlier this evening. “The boat was really never ‘for sale.’ Pete called asking if I would sell it, and I told him a number and he said he would think about it. He asked me for my wire info and I emailed him a PDF, and he wired the funds within the hour.

“When the wire hit is when I came to realization that it was sold,” he continued. “I met a lot of cool people during my time in the sport, and even got to win a Super Stock race (in 2022) in the Ozarks.”

The Steele Industries team took top Super Stock-class honors at the Lake of the Ozarks offshore racing event in 2022. Photo by Jeff Helmkamp copyright Helmkamp Photos.

Riveiro will drive the cat in Key West next month with veteran throttleman Ricky Maldonado, a longtime friend. Riviero had been aware of the 32-footer since it entered the class in 2022, but he fell in love with it this year during the 7 Mile Offshore Grand Prix in Marathon, Fla., while he was looking for a Bracket 700-class boat for his daughter, Peyton.

Though currently Riveiro is best-known for competing in the Mod V class in his boat dubbed The Firm—named for his real estate business, which he still owns—he started his racing career in the catamaran ranks. The Super Stock class, he explained, has long appealed to him.

“When I saw the boat in Marathon, I thought ‘This boat is at another level,’” Riveiro said. “Most of the Super Stock boats I had seen were older. This boat was incredible.

“Super Stock is the class in offshore,” he continued. “The competition with guys like Torrente and Ballough and Beckley, guys who have been in the sport a long time, is amazing.”

When Maldonado learned that Steele planned to “sell his seat” in Key West, he suggested he instead sell the boat. Steele agreed, and Maldonado’s first call was to Riveiro.

“I am definitely excited about it,” Maldonado said. “Pete and I are really close friends. We have been in the sport for about the same amount of time.

“I think we can do really well,” he added. “The boat has been my baby—I put it together from zero, set it up, even painted it myself. It’s a good boat in rough water, really fast in flat water and it turns great. We will definitely put on a good show.”

As it was for the Sarasota Powerboat Grand Prix this year, the Super Stock fleet will be massive in Key West. Photo by Pete Boden.

Added Riveiro, who won’t campaign his Mod V boat in Key West this year, “I am glad we could keep it in the family.”

The name of the team will soon change, at least for Key West. Richard Garcia, the owner of the Boat Depot and Riveiro’s former cockpit-mate in his Mod V raceboat, has stepped up to sponsor the team for the upcoming event. The decision was an easy one for Garcia.

“The moment Pete told me he was looking for a sponsor, I didn’t want to hesitate,” he said. “Racing with Pete was incredible and we are very excited about it. Pete and Ricky racing in that boat together is going to be a sight to see.”

A 20-year-old, family-owned business, Boat Depot is located in Key Largo.

“Pete lives in Key Largo so he’s local like me, and it’s always good to support local teams, especially in Key West,” Garcia said.

One thing that won’t change is the cockpit pairing, which will continue in 2025. Said Riveiro, “I wouldn’t be in the boat without Ricky.”

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