The 100 Guineas Cup or Hundred Guinea Cup (£100 Cup) regatta of 1851 was the first competition for the trophy later named America's Cup. The trophy was valued at 100 pounds-sterling which led to its various names, all variations on 100 Pound Cup. The race was won by the yacht America, leading to the trophy being renamed "America's Cup". The official event known as "The America's Cup" was founded in 1857, when the deed of gift established the racing regattas. The 1851 competition was a fleet race, whereas modern America's Cups finals are match races.