The Race was conceived by Bruno Peyron as a crewed, non-stop, unassisted round-the-world race open to any boat with no size limit or rating rule. It grew out of the Jules Verne Trophy, a race against the clock, which Peyron wanted to turn into a direct contest between competitors. Maxi multihulls were the natural fit.
The course rounds the three great capes (Good Hope, Leeuwin, Horn), with a gate between the two islands of New Zealand. The first edition started in Barcelona and finished in Marseille.
The only edition sailed started on 31 December 2000. Six boats lined up; Grant Dalton won aboard Club Med in 62 days 6 h 56 min 33 s, ahead of Loïck Peyron's Innovation Explorer. A second edition planned for 2004 was cancelled as potential entrants preferred Tracy Edwards' Oryx Cup. A return in 2013-2014 was discussed, but no further edition had taken place by 2025.
