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 Monarch started at odds of 15/1 in a record field of thirty one runners. These official odds however, were offered jointly for The Merry Monarch and his stable companion Doleful: according to "The Sporting Magazine", odds of 35/1 would have been more accurate reflection of the actual betting. The start of the race was delayed by almost an hour by a series of false starts and an incident in which one of the leading contenders, Alarm was kicked by The Libel. Alarm threw off his jockey, Nat Flatman, ran into a chain fence and then galloped loose down the course