Bertie Reed, South African yachting legend died at his Gordon’s Bay home, of cancer. He was 63.

From humble beginnings he rose to the top of ocean racing via a naval career, being one of a few yachtsman, and the first South African, to compete in three  BOC Challenge Single Handed Round the World Yacht Races, then regarded the toughest challenge in ocean racing.

In the first race, 82/83, in Newport, Reed’s second across the line, first on handicap, brought him to world-wide attention.

With 1800 miles to go, Robin Knox-Johnson, on Saga Insurance, has come to terms with the fact that he will probably spend Christmas at sea. Knox Johnson has battled with broken battens and now faces a gale which seems to be tracking him. Having ascertained that the storm was lying south of his position, he moved north and the storm followed. The seas were very rough and at one time Saga Insurance did 27.6 knots.

BOAT INTERNATIONAL, essential reading for yacht-owners and enthusiasts world-wide, has been sold in a UKpound 29m management buyout.

The private-equity firm, August Equity, and directors of the magazine’s parent company, Boat International Group, including Tony Harris, the chief executive, have acquired the business from Henderson Equity Partners, a rival investment firm. 

August is contributing 13.4m of equity to fund the buyout, while management is funding the remainder of the equity. Lloyds TSB is providing debt finance.

Larry Ellison, one of the richest men in the world, could find his America’s Cup Challenge on the rocks unless he can halt an ill-timed legal action. A German court has served asset-confiscation papers on his illustrious sponsors - BMW, Allianz and Roland Berger Strategy Consultants. The action could go as far as having his 110 million pounds Oracle Racing yacht stranded on the dock unless there is a settlement.

It seems that the famously irascible Ellison has upset Kolya Spori, a sponsorship agent, who claimed to have arranged the BMW backing of the America’s Cup venture to the tune of 40mill but was never paid.

The inaugural Superyacht Cup in Antigua saw a close finish to the final race, with Patient Falcon winning on a points difference after a fine race. Second were Kalikobass II, Maltese Falcon, Sojana and finally Velacarina.

Don Smith, owner of Patient Falcon collected his trophy from the Commissioner of the Antigua and BarbudaNational Parks, Anne Marie Martin.  Peter Harrison, owner of Sojana who was winner on the first day, received the Valencia Superyacht Marina Trophy.  The Camper & Nicholson’s International prize for the second day was awarded to Glen Hickerson of Kalikobass II.