Read the text and determine if the sentence is true (see options at the end):

The Three Peaks Yacht Race is held each year in June in the United Kingdom since 1977. It is based on an idea of Bill Tilman, who had advocated a Three Peaks Challenge route without using motorised transport. His doctor, Rob Haworth, with colleague Merfyn Jones developed the idea into a race.

Sentence: The race is held every year. 

 (1). Yes.
 (2). It's impossible to say.
 (3). No.
(1).