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The first race of the JJs starts at 3pm Saturday and will be live streamed from the Camera Cat and a drone.

A spokesman for the yacht owner said, "The yacht will now be handed over to the owner’s project team and will leave Gibraltar shortly."

World Sailing received bids from Mar del Plata, Argentina, Melbourne, Australia and Sanya, China.

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“We are aiming to host the largest Viper regatta ever outside of North America with 20 Western Australian Vipers eager to go up against some of the best Viper sailors coming in from around the world.”

More than just a boat show, Hobart turns on a treat