From Scuttlebutt 11/05/2005, an editorial by Charley. My attention was arowsed by the first line of the second paragraph, and the very last sentence.

GUEST EDITORIAL -- Charlie Cook
The Olympic format agreed upon last week was the result of a careful
balancing of the interests of all stakeholders: sailors, sponsors, media
and event organizers. Olympic aspirants spend years and countless sums
training for and competing in the Olympics. They put their lives on hold.
They want to compete in a fair event, with the best sailors winning the
Gold. They don't want a format that amounts to nothing more than a lottery.
Corporate sponsorship has become the lifeblood of Olympic campaigns. Media
exposure is the currency of those sponsors. The more live TV coverage and
other opportunities for exposure the better - for all sailors.

Literally billions of dollars are paid to the IOC for the right to cover
the Olympics. The IOC have made clear that sports must adapt to this
reality or be eliminated from the Olympics. This is an issue at all levels
of the sport. Try explaining to an Editor who sends a reporter and
photographer to an event why the winner isn't event sailing on the last
day. The organizers of Grade 1 and World and Continental Championships of
Olympic classes are also stakeholders. Whatever format was decided upon for
the Olympics is likely to trickle down to other events. Clubs want a format
that's inclusive, and easily managed.

Some of the more radical proposals included an elimination series leading
to a three race winner-takes-all final series for four boats. That would
certainly have made for interesting live TV coverage on the final day of
each event. But, especially given conditions expected in Qingdao, it would
have reduced the competition to a lottery. In the end, the sport would have
been changed, in many ways for the worse.

The format settled upon represented a compromise in the best sense of the
word. The new format addresses the interests of all stakeholders. The
potential for a lottery is greatly reduced; the best sailors will win the
medals. A larger number of sailors will gain exposure through live TV
coverage. The final race will be meaningful and interesting to the media.
Finally, this is a format that organizers of Grade 1 events and class
championships can implement.

Early returns have been overwhelmingly positive. The IOC are reported to be
pleased with the format. The mainstream media think it's a good approach.
Most importantly, it didn't "change the game" for the most important
stakeholder - sailors around the World. -- Charley Cook, ISAF Council
Member (Group P - USA and CAN)