The thing to remember here is that as soon as you let go of the rope, you begin to slow down due to air resistance. The rope however, is still attached to the boat and stil doing the same sped as the boat. In order to have a chance of grabbing the handle, you must first get out in front of it then you wil be even with it when you go to grab. Of course I can't do this trick, but I know enough to figure out that if you just let go, it won't be there when you complete the spin.
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