KEY WEST (CBSMiami/FKNB) -- Veteran sailboat racing teams from around the world competing in the waters off America's southernmost city through Friday putting on a colorful display for spectators during Quantum Key West Race Week 2016.
One of the most prestigious sailing regattas on the international calendar, the Key West event includes a diverse fleet with teams hailing from 12 nations.
More than 135 boats and crews, organized into 11 classes, are participating in the event.
Race organizers say teams are attracted to Key West to enjoy January sailing in subtropical waters, reliable breezes and fierce competition. Competitors are racing Atlantic Ocean courses just off Key West's shore and inside the continental United States' only living coral barrier reef.
After Wednesday's races, defending champion Bella Mente, skippered by Hap Fauth of Minneapolis, has the lead in the Maxi 72 class.
Fauth, with tactician Terry Hutchinson of Harwood, Maryland, won the first two of three races Wednesday and finished the third in second.
Bella Mente, the Maxi 72 world champion, is two points ahead of Caol Ila R, helmed by Malta skipper Alex Schaerer.
In the IRC 1 class, Steve Benjamin of Norwalk, Connecticut, the 2015 Rolex Yachtsman of the Year, has Spookie two-and-a-half points ahead of Quantum Racing, owned by Doug DeVos of Ada, Michigan.
Calvi Network, skippered by Italy's Carlo Alberini, leads the 54-boat J/70 class.
The Florida Keys News Bureau contributed to this report.