The two-man round-the-North-Island race is being named after Sir Peter Blake.
The Short-Handed Sailing Association of New Zealand says its three-yearly, 1200-mile event, which starts off Devonport on February 24, will be named the Sir Peter Blake Memorial race in his honour.
Blake helped to organise the first race, the brainchild of his great friend Martin Foster, in 1977.
Sailing with Graham Eder, Blake took line honours for the event in the yacht Gerontius.
Race director David Cooke said: "Sir Peter's family is happy for the association to name the race after him. It is a huge opportunity for us.
"He has played such a pivotal role in New Zealand yachting and short-handed sailing.
"He is such an icon to New Zealand and we have the privilege of naming it - a race he originated - after him.
"Sir Peter helped to put it together and then sailed in it."
Accompanied by Foster, the Duke of Edinburgh fired the gun for the start of the first race 25 years ago.
Cooke said approval for naming of the race in Blake's honour came after Foster spoke to members of the Blake family at his funeral in England.
"The comments we got back were that Lady Pippa Blake would be delighted if we named it after him," Cooke said.
Organisers expect more than 25 entries for February's race.
The event is regarded as the ultimate local challenge for short-handed sailors.
The association has set January 7 as the deadline for entries, but will accept latecomers on payment of an extra fee.
Competitors get the gun off Devonport Wharf at 2 pm on February 24 for the first, 161-mile leg to Mangonui.
The next leg, to Wellington, potentially the most exciting section of the race, is a 500-mile scamper down the west coast.
Then comes the 210-mile third leg to Napier followed by the 375-mile final leg to the finish-line in the Waitemata Harbour off Westhaven marina.
Among the confirmed starters is Graham Dalton, brother of round-the-world sailor Grant.
Graham Dalton intends sailing in his new Open 60, the boat in which he plans to compete in next year's Around Alone, the solo round-the-world race.
Full coverage:
Peter Blake, 1948-2001
Yachting: Round-North Island race to be named after Sir Peter
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