The Telerate - Reuters Regatta
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The Telerate - Reuters Regatta is an Australian event that takes place yearly in November in the Sydney Harbour. This regatta is a corporate event and gathers up to 80 boats that compete in four different divisions. It was organized by Telerate, a financial information provider, until its acquisition by Reuters in 2005.
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[edit] History of the race
The origins of the Telerate Regatta date back to 1985 when the first “Merchant Bank” Regatta was held on Sydney Harbour. In 1989 Telerate Australia became the event sponsor. Since then, the race has become one of the largest corporate Regattas on Sydney Harbour with over 80 boats and 1,500 people attending the race and the beach party that follows. Many of the large financial institutions enter multiple boats each year. The other industry event of similar size is the Reuters/ASX Golf Day held yearly in February.
The Regatta has been held on the same Friday every November since the race began. The first Tuesday in November marks the beginning of the Australian holiday party season with the Melbourne Cup Horse Race. With the Regatta the following week, many people start their client holiday entertaining at the event, spending thousands of dollars on boat hire, food, drinks and corporate gifts.
The race generates strong competition amongst the participating companies ensuring many good yachts on Sydney Harbour are regularly entered. Many of Australia’s top yachtsman and boats have raced since the Regatta’s inception. For example, the Sydney to Hobart yacht, Brindabella, skippered by George Snow, has won its class three years and world-renowned yachtsman. America’s Cup skipper, Ian Murray, has regularly raced one of his yachts.
The last race took place in November 2003. Further regattas were postponed due to the acquisition of Telerate by Reuters. From November 2006 the event takes a new name and becomes the Reuters Regatta.
[edit] Components of the race
[edit] 1. The Race
Between 50 and 80 boats participate in the race each year. Participants choose to either skipper themselves or hire a skipper. There are two types of entrants: racing boats and spectator boats.
[edit] 2. Divisions
The race has four separate divisions dependent on the yacht type:
Division 1 Racing Yachts
Division 2 Cruiser Racing Yachts 35” LOA and under
Division 3 Cruiser Racing Yachts over 35” LOA
Division 4 Classic and Cruising Yachts
Awards are given for 1st, 2nd, 3rd, and 4th place in each division.
[edit] 3. Courses
Several courses are mapped out for the race with the actual course to be decided on the day of the race dependent on weather and water conditions. All courses run throughout the Sydney Harbour.
[edit] 4. Handicap Start
Two 60 Minute Countdown sequences run from 12:30. The first sequence commences with the display of a Green Flag and the second with the display of a Red Flag 60 minutes later.
[edit] 5. Beach Party
Race entrants and financial market participants take part in the evening beach party at the Middle Harbour Yacht Club. The awards ceremony takes place there.
