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Engine/outdrive seized up 2.3 engine cobra outdrive

I was running the boat yesterday for the first time this season ,when I heard a clink and it stopped. After raising the drive I checked for a rope around the prop. It was clear.After getting towed in I checked the cylinders ,I removed each plug and no water in the clyinders,I tried to spin the engine over with a socket on the bolt for the crankshaft and would'nt move.I checked the outdrive and no oil was showing on the dipstick. If the outdrive seized would this prevent the engine from spinning over?What test should I do next? The boat is a 87 chris craft with 2.3 liter and cobra outdrive.thanks for any help. Kevin
 
I ermoved all plugs, and outdrive.Engine spins over. Grabbed the shaft (that the ujoints are attached to) and outdrive is seized. Removed the top cover (the one the dipstick gos into)and gears appear to be ok. ?I noticed the u-joints rusty so, maybe water was coming in the bellows. Any Ideas?
 
Now you need to split the upper and lower, could be trashed down in the bottom with the fwd and rev gears, but it's never a good thing to run those things with low or no oil. Remove the bottom oil drain screw, should have a magnet on it, check for shiny metal pieces.
 
Pressure test the drive with the oil in it. You will see where the oil shoots out from 12-15 psi.

Find the inside toast of the drive you have a couple of different options.

1- Get rid of the boat.

2- rebuild the drive. Not the option i would take.

3- get a sei conversion kit and sei new drive. Warranty is bullet proof, anything happens to the drive anything they replace it.

4- switch over to a merc drive.

5- buy a boat with a bad hull and good merc drive and 3.0 motor. transfer everything over to your hull. The plus side with a 3.0 motor you will think it's a different boat. With what they are getting for junk hulls with good drivelines might be the option i would go for.

Sell the cobra motor and everything hanging off the transom. You will then have a motor and drive that are current and have support and will be easier to get parts for.

Side comment: there is a guy down the road 1/4 mile has a complete boat everything great same drive and motor as you he want 2,500 for it complete with a trailer.
 
Thanks for all your advise . I pulled the unit off and took it home to get a better idea. When I dropped the oil there was no metel or water in the unit or on the magnet.If I can split the unit(s) apart I'll have a better idea.
 
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