That is a wake plate Tige' used to lift the hook out of the water and give a better wake. I wouldn't remove the plate. it is through bolted into the transom, and part of the boats handling. The only reason to remove the plate is to make a larger prop-wash for Tubing. At slalom speeds, the wake is great, and for Wakeboarding, you just need to weight the heck out of that hull.
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