Yacht race (7)
I believe the answer is:
regatta
'yacht race' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for regatta that I've seen before include "Yachting or rowing event" , "Display of boats" , "Sporting event with boat or yacht races" , "Boat race meeting" , "E.g. Henley" .)