The long-running Bucket Regattas in St. Barths and Newport have always prioritized the enjoyment of the owners and frowned upon commercialism. That same spirit will continue under the guidance of new owners—four new owners, to be exact. They are Perini Navi, Royal Huisman, Vitters Shipyard, and Rybovich.
The four shipyards have been sponsors of the annual St. Barths Bucket and Newport Bucket for many years. The Bucket Regattas themselves were first organized in 1986, by yacht owners and captains, three in all. One of the owners, Nelson Doubleday, was having a birthday, so they decided to compete for bragging rights as to whose boat was fastest, further to coincide with the birthday celebrations. What started with just seven yachts—and in Nantucket, Massachusetts—evolved into one of the most famous megayacht races on the annual calendar. It expanded to St. Barths in 1995 (with four entries that year) and moved from Nantucket to Newport in 2002. Both Bucket Regattas have grown so much that each race is capped at 30 competitors. In addition, all 30 slots have been filled at each Bucket Regatta from 2006 to 2013.
At a press event at the Fort Lauderdale International Boat Show this evening, Bruce Brakenhoff, Jr., who manages the Perini Navi USA office, announced that Perini Navi, Royal Huisman, Vitters Shipyard, and Rybovich expected to formally close the deal to acquire the rights to the Bucket Regattas this coming Monday. “Very little will change,” he explains, emphasizing that the “for owners” aspect will remain.
Indeed, the four firms released a joint statement about the Bucket Regattas deal echoing this:
As the new custodians of the St. Barths and Newport Bucket Regattas, we cannot emphasize enough that our sole objective in taking this initiative is to ensure that the special character of the Bucket is preserved for owners, their guests and crew, now and well into the future. The Buckets will continue to be an opportunity for great racing in great venues, where socializing and networking, rather than sales and marketing, will set the tone for the industry professionals who participate. Furthermore, wherever practical, owners’ aspirations, ideas and concerns will be at the very heart of decision-making regarding any changes to the format, organization and evolution of the Bucket Regattas over the years to come.
Peter Craig, the Bucket Regattas event director and race chairman for the past four years, will remain in his role.
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