Newport Beach’s Invitational Regatta
By Allison Medoff
The Invitational Regatta for the Hoag Cup just completed its third year in Newport Beach, CA this past weekend. Facilitated by Newport Harbor (NHYC) and Balboa Yacht Club (BYC), the proceeds from the event benefit the Hoag Memorial Hospital and its Hoag Heart and Vascular Institute. Having collected just more than $700,000 the past two races, insiders agree that the numbers could be more promising.
With the troubles in the banking industry, it comes as little surprise that Wachovia, Washington Mutual, and Bank of America, previous supporters of the regatta, will not be returning this year. Wachovia has been acquired by CitiGroup, Washington Mutual is the largest bank failure in U.S. financial history, and Bank of America is held back by restrictions after agreeing to take federal bailout money from the Trouble Asset Relief Program.
This year, the three-day sailing event, featuring boats longer than 50 feet, to race around buoys on a set course, has turned to the locals and the community for sponsorship, which include Newport-based Traditional Jewelers, Costa Mesa-based Warmington Homes, various yachting companies and a few private individuals. “We’re very grateful to our sponsors and we expect to achieve our charitable goals. They’re not as generous as in 2007, but it will be a successful event,” said Jake Rohrer, director of general fund development for the Hoag Hospital Foundation.
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July 7th, 2009 at 9:39 am
Hello, Can you tell me the dates for the Regatta that takes place in Newport Beach, California?
Thank You
Sheila