I was racing the Wednesday race out of Little Creek, the wind was 15-17 out of the NE with 2-3 waves. I had a reefed main, partial reef in the jib for windward legs, and 3 good size guys including myself on the rail. We were doing well with 6 larger boats in our fleet all of which owe us time behind us as we approached the windward mark for the 2nd of 3 legs. All of a sudden the boat fell off and I could not figure out what was going on. I looked back and it appeared the rudder had worked it way up so I had a crew go adjust the downhaul. When he looked down he said you better check this out. The rudder was canted about 15 degrees. I dropped the sails and examined further. The weld on the port side plate that attaches to the rudder post was busted. The weld on the starboard side looked like it wasn't far from doing the same. We secured the rudder and motored in. Steer with the motor in 2-3 foot waves sucks. At the dock we took the rudder off and the rudder post had a crack about an inch long at the bottom. I believe the weld on the plate attached the rudder post went first and then because of the forces being generated the tube went next. The welder at the boat yard quoted $75 to weld the post and straighten and weld the plate. Has anyone else had a similar problem? The welder said that the original weld appeared to not have a good bead. He stated he has done this type repair in the past and it would be a permanent fix not temporary. Any thoughts on the durability after having this done? Hope to have it all back together for next weeks race.