SAN FRANCISCO (CBS SF) — The U.S. Coast Guard continued to search for four sailors missing after a sailboat ran aground near the Farallon Islands on Saturday afternoon.

One crewmember was killed when the 38-foot yacht Low Speed Chase sailed into rocks around 3 p.m. during the 2012 Full Crew Farallones Race.

Three other crewmembers were rescued at sea by a team of Coast Guard helicopters and search and rescue boats that responded to the mayday call, according to the Coast Guard.

San Francisco Yacht Club director Ed Lynch said Sunday that 46-year-old Marc Kasanin of Belvedere, Calif. is the club member whose body Coast Guard crews recovered from the water near the Farallon Islands Saturday.

KCBS’ Tim Ryan Reports:

Still missing are Alan Cahill and 25-year-old Jordan Fromm, the only woman aboard the yacht Low Speed Chase when it was hit by a pair waves that swept seven of the boat’s eight crew members overboard then ran aground.

A third missing crew member is not being named because his family in Ireland has not been notified.

The boat’s captain, James Bradford of Chicago, and two other crew members survived the accident.

More than 60 boats had signed up for the annual yacht race, according to the Yacht Racing Association of San Francisco Bay’s web site.

All other boats returned safely, according to Gerry Brown, chairman of the board.

Conditions on the water at the time of the crash were “normal,” he noted.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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