Solent Coastguard was alerted at 15:20 BST on Saturday that the yacht Atlanta of Chester, taking part in the Cowes Week regatta, had been involved.

The collision involved the tanker Hanne Knutsen off Egypt Point, Isle of Wight.

A Maritime and Coastguard Agency (MCA) spokesman said: "Two people were thrown overboard by the collision and the yacht lost its mast and rigging."

He added: "The Rhib Vigilant took one of the people back to shore for medical attention whilst the Southampton patrol boat and Hamble rescue took the second person to a waiting ambulance at Trinity Pontoon.

"He was later discharged from hospital.

"The Marine Accident Investigation Branch and the MCA duty surveyor have been informed.

"The tanker continued to its destination at Fawley and the yacht has been towed to the UKSA berths at Cowes."

Aberdeen Asset Management Cowes Week said an official investigation on the incident will be carried out in due course.