The 34th Annual Classic Yacht Regatta, sponsored by Panerai and hosted by the Museum of Yachting, will take place in Newport over the Labor Day weekend. Organizing authority Sail Newport will run racing on Saturday and Sunday, followed each night by social festivities. The event s traditional Classic Yacht Parade takes place Sunday morning. Sponsors Hunt Yachts and IYRS also join the event this year. The regatta will again be part of the North American Panerai Classic Yachts Challenge.