Italian coast guards yesterday rescued eight Austrian and Russian crew members from a yacht taking part in a Palermo to Montecarlo regatta after the vessel caught fire off Sardinia.

The “Coral” – an 18-metre sailing boat registered in the British Virgin Islands and one of 14 participants – was about 10 nautical miles west of La Maddalena when it caught fire and sank during the night.

“The blaze started suddenly and spread very quickly, giving the crew members just enough time to abandon the boat and scramble into a lifeboat and launch a mayday signal,” race organisers said.

The two Austrians and six Russians are all reportedly well and an investigation has been opened into what caused the fire.

The race began in Palermo on August 18 and is expected to conclude in Monaco by tomorrow.

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