Cowes Week after its new sponsor, Lendy - The Property Platform. The festival originates from the Prince Regent's interest in yachting which continued after he became George IV in 1820. The first race started at 09:30 on Thursday 10 August 1826 with the prize of a "Gold Cup of the value of £100" and was held under the flag of the Royal Yacht Club, which later became the Royal Yacht Squadron. Another race was held the next day for prize money only (£30 for first place, £20 for second). Until World War I, big cutters and raters were raced by gentlemen amateurs
The Merry Monarch sold all his horses for £10,000 to Edward Lloyd-Mostyn. The Merry Monarch was put up for auction and bought back by his original owner, William Gratwicke for 78 guineas. "The Sportsman" magazine described The Merry Monarch as "a very bad horse" and his Derby win as the biggest "fluke" in the history of the race. "The Farmer's Magazine" concurred, calling the result "one of the greatest flukes that we have on record". The Merry Monarch stood as a stallion at his owner's stud at Ham, where his fee was initially 10 guineas. He attracted few mares however, and in only