World Net Daily reports:
[O]thers ... are not so sure what is being viewed underwater are the remnants of the great chase and urge extreme caution regarding the unsubstantiated claims. "All kinds of people are finding coral and calling it chariot parts," says Richard Rives, president of Wyatt Archaeological Research in Tennessee. "It's most likely coral covered with coral. ... Opportunists are combining false things with the true things that are found. These people are making it up as they go to be TV stars."
[Mary Nell] cites Ron's discovery of a wheel hub that he brought to the surface in the late 1970s as proof. The hub had the remains of eight spokes radiating outward and was examined by Nassif Mohammed Hassan, director of Antiquities in Cairo. Hassan declared it to be from the 18th Dynasty of ancient Egypt, explaining the eight-spoked wheel was used only during that dynasty around 1400 B.C. Curiously, no one can account for the precise whereabouts of that eight-spoked wheel today, though Hassan is on videotape stating his conclusion regarding authenticity.
It sounds like people are seeing what they want to see - over a large expanse of sea, it's not surprising that they might discover a couple of places where there is a pattern that matches what they are looking for. Of course such "discoveries" will make someone a star - not just on TV, though. It will also make them a star on the evangelical Christian lecture circuit, complete with a book and numerous interviews and magazine article. These discoveries tell people what they want to hear about the historicity of the Bible, and many evangelical Christians are quite happy to spend lots of money to confirm what they already believe. Of course, they aren't acting any different from normal people here, but they have a heavy emotional investment in their religion so they have strong motivations to find "evidence," any evidence,' to confirm things for them.