Next up for Larry Ellison's racing team: make their wrecked boat fly.

They are using pieces of a wrecked $8 million America's Cup yacht to create an airplane of sorts to compete in a wacky event taking place this weekend in San Francisco, reports Will Kane at the San Francisco Chronicle.

Ellison's catamaran capsized in San Francisco Bay while the crew was practicing for the America's Cup sailing race, and was badly damaged. The crew is now waiting for a replacement boat expected to arrive in February so they can get back to training.

In the meantime, San Francisco Bay will be taken over this weekend by an event sponsored by Red Bull, the energy drink, called Flugtag. That's German for "flight day" and it involves a lot of people launching handmade flying contraptions off a 30-foot-tall platform.

The crew has gathered bits of Ellison's boat to make a Flugtag entry. It will still look more like a boat than an airplane. The plan is, more or less, to build a boat-like thing with a tall, 12-foot sail and then turn it on its side, trying to get the sail to act like a wing.

The boat's air flight should be as entertaining for spectators as watching it in a sailing race.

So if you are in the Bay Area this weekend, you might want to check it out. Here's a video of a the Flugtag event that took place last Saturday in Miami.