Fourteen people have been airlifted to safety from the hull of their upturned yacht after it capsized, according to the coastguard.
At 1.30pm, Solent Coastguard received a 999 mobile phone call from the skipper of the 45ft yacht Bounder which was slowly sinking two-and-a-half miles south-east of St Catherine's Point lighthouse on the Isle of Wight.
A coastguard spokeswoman said: "The informant reported that all 14 crew were on the upturned vessel. All were wearing lifejackets and the vessel was slowly sinking.
"It appears that the yacht had broken its keel, lost stability and overturned."
The coastguard rescue helicopter Whiskey Bravo was scrambled and airlifted the crew members to its base at Lee-on-the-Solent, Hants.
The spokeswoman said none of the casualties required medical attention as they were cold but showed no signs of hypothermia.
She added: "After consultation with the casualties it was deemed that no medical attention was required.
"They were taken back to the helicopter base at Lee and given hot drinks.
"The crew of the yacht had been hanging on to the hull for approximately 30 minutes and were very cold but not hypothermic."
