My two cents:

- Organizer should not be involved in the racing activities. It must be clear that you are not involved in the way the races are run or who is selected for what.

- Entry fees should not be used for primary prize money. The only exception could be a "50/50 prize" given to a random finisher to encourage everyone to enter. A 50/50 prize would mean that one randomly selected entrant would win 50% of the total entry fees upon completion of the regatta. Since entry fees for regattas around here are usually less than $50, doubling the fees to $100 for a weekend would garner about $1,000 for some lucky entrant (regardless of what finish position), and still leave $1000 for the race organizers to cover expenses. The big prize money from sponsors would be given out separately based on finish position.

- Clear, understandable accounting and budget tracking available to all competitors, sponsors, etc.

- Escrow account tracking and guidelines for distributions, contributions, etc.


I agree that prize money isn't what brings me out to an event. It's the other sailors, the venue, my schedule, and the other things to do (for non-sailors) at the event.