It might be premature to say Neese "owns" the Saga. My money would say he uses that phrase like we would say, "I just bought a house." Banks will lend money to purchase boats, and they will also perfect a marine mortgage on the boat, same as they would for property on land. The guy is clearly unfit to command a vessel of any size, and whomever ran him off the boat did the right thing.
I wonder what the people who own that "686" sportswear company think about plastering their logo all over him and his boat now.