Metal reinforcement on the transom would make me very suspicious.
Don't get me wrong - it did it on my first boat and it got me by, but the reason I did it was because I knew nothing about how to properly fix it, other than I talked to a glass guy and he said around $1000. Well, I paid $900 for the boat/motor/trailer so needless to say I wasn't going to spend 1k on a new tranny! Stainless steel transom reinforcement to the rescue!
I'm betting the transom is at least partially rotten or delaminated. Motor looks great. Boat looks pretty good too.
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1994 Wellcraft V21
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