Crockett and Tubbs capture a particularly dumb bank robber, Isadore Moreno, better known as Izzy. Izzy attempts to make a deal in order to get himself off of armed robbery charges. Crockett and Tubbs don't believe he has anything to give until he mentions Louis McCarthy.
Heading to his boat club, they manage to wrangle themselves an invitation to his party before trying to make a coke deal that he's too suspicious to agree to. Tubbs also becomes friendly with McCarthy's girlfriend, Vanessa. Believing the boat race is an inn, Crockett manages to get an invitation after beating McCarthy in a game of pool. Unfortunately, McCarthy's crooked accountant, Dale "Giff" Gifford is murdered at the party.
It soon becomes a cat and mouse game between the police and the drug lord that knows more than he's let on.
This episode contains the following tropes:
- Absurdly High-Stakes Game: Crockett bets his Ferrari in a pool game with McCarthy. Thankfully, he wins.
- Affably Evil: McCarthy is a Graceful Loser and doesn't have anything to do with the murder of the heroes' informant.
- Asshole Victim: Giff was attempting to blackmail Vanessa into continuing their affair despite her breaking it off.
- The Big Race: Crockett and McCarthy participate in a two hour power boat race.
- Blackmail: Giff was murdered because he attempted to force Vanessa into continuing their affair after she broke it off, saying he'd tell McCarthy about her embezzlement.
- Cannot Spit It Out: Izzy attempts to tell Sonny that Vanessa murdered Giff but Crockett refuses to listen because he's so contemptuous of the man and doesn't want to blow his cover.
- Cartwright Curse: Tubbs gets involved with the girlfriend of McCarthy, Vanessa. She's actually Giff's murderer.
- Cool Boat: Crockett makes use of his power boat while McCarthy uses these to smuggle his drugs.
- Dirty Harriet: Trudy and Gina play a subdued version of this where they are two young college students arresting a college professor dealing drugs.
- The Don: McCarthy is the first drug lord the heroes face since Calderone.
- Femme Fatale: Vanessa is already cheating on McCarthy when she starts a relationship with Tubbs. She kills Giff after he attempts to blackmail her into continuing their affair.
- Foreshadowing: Vanessa was already embezzling $250,000 from McCarthy with Giff's help. So, of course, she was the one to kill him.
- In Love with the Mark: Tubbs rapidly falls for Vanessa despite seducing her to get close to McCarthy.
- The Infiltration: Crockett and Tubbs get to make use of their cover identities as drug dealers. Notably, Crockett and Tubbs manage to keep their undercover identities unlike most of the episodes where they do.
- The Stool Pigeon: Izzy has supposedly sold out everyone he's known since the sixth grade.
- Stupid Crooks: Izzy makes his introduction here as a bank robber who gets doused in dye packs.
