The 38th Annual Manuel Fagundes Seaweed Soup Regatta, otherwise known as the Golden Gate Yacht Club Mid-Winters, is this Saturday, February 7th. This isn't the biggest race of the year and it's not especially glamorous but it is pretty cool that it's usually around 100 boats racing right up along the City Front.
The City Front is one of the Bay's major race courses going from Fort Point down to Treasure Island. There are marks set up at many landmarks along the course from Crissy Field to the Hyde Street Pier to Fort Mason. All along this course, there is usually a pretty heavy tidal current flowing either east or west. This forces the boats to come in very close to shore to get tidal relief.
When you combine this desire to come in close to shore and the very tight racing that some of these classes get, it's a wonder that there isn't more NASCAR style viewing of races like this. Not to mention that he scenery for one of these sailboat races is much more interesting than an asphalt oval!
There are literally dozens of places to watch this race along the waterfront. I would recommend Fort Point, Crissy Field or Fort Mason -- all good places to set up shop with an unobstructed view of the race course. You want to be near one of the turning marks (usually yellow or orange floats on the water). The boats tend to bunch up at these marks and are governed by a byzantine set of rules fully understood by fewer than a dozen people worldwide (and they're not talking). If the wind is just right, you will certainly see carnage and quite possibly a few choice words being exchanged.
All of the races start between 11:30AM and Noon on Saturday February 7th right outside the Golden Gate Yacht Club; if you miss this Saturday, the next race is March 7th, same time. Bring a thermos of hot coffee or a picnic lunch to any place with a good view of the water and prepare for an enjoyable afternoon of boat on boat racing action. Then see the crew list article to find out how to be out there yourself next time.
Edit: If you were not able to get down to the water to see the action, there is an excellent gallery at Lyons Imaging.