Established in 1990, the annual Rolex Miami OCR (Olympic Classes Regatta) organized by the Olympic Sailing Committee of US SAILING, is sailed on Biscayne Bay and features elite-level competition in the classes selected for the Olympic and Paralympic Games. As the only International Sailing Federation (ISAF) grade-one ranking event in the U.S. for Olympic classes, the Rolex Miami OCR has a track record for high attendance by foreign teams.

For American sailors, the event is especially important as a ranking regatta for sailors hoping to make the US Sailing Team. The US Sailing Team annually distinguishes the top-five ranked sailors in each Olympic class.