The “Cor Caroli” Regatta is held in memory of Capt. Georgi Georgiev - the first Bulgarian to participate in the transatlantic OSTAR regatta in 1976, who later completed the first Bulgarian solo circumnavigation under sail, departing from Havana on December 20, 1976, and returning there.
The first edition of the regatta included 22 yachts; by 2003 the number of participants had increased to 29 yachts, and since 2005 the regatta has been declared international.
The modern format of the competition includes a race in Varna Bay, where crews demonstrate their technical and tactical skills. The event also features longer offshore races, with yachts sailing routes such as Varna - Balchik - Varna and Varna - St. Vlas - Burgas along the Bulgarian Black Sea coast.
