Sligo Yacht Club is fortunate to have in its possession the oldest perpetual trophy in the world for which sailors still compete.

The Ladies Cup, as it is known was first contested in 1821 on Lough Gill. The race was strictly classed, only allowing for boats which were a maximum of 26 feet and six inches long. The course sailed was twice around the lake, a distance of almost 18 miles.

The Cup itself is a beautiful piece of Irish silverwork. It is 37 cm high and 33 cm across. Originally donated by the ladies of Sligo, it is made of sterling silver, marked by the Irish Goldsmiths Hall and engraved with the words "For the encouragement of fast sailing boats on Lough Gill." On the rim of the Cup foot is engraved "Captain Rochford Royal Navy Treasurer"
When W.G. Woodmartin wrote his History of Sligo in 1891 (at which time there were about ten boats in Sligo Yacht Club) he said that "the original weight was 69.5 troy ounces, from repeated cleaning it now weighs only 68 ounces but is in excellent condition."
Woodmartin put a value of about £140 on the cup itself. Over 100 years later, who could say what the value of it could be today?

The Ladies cup is still sailed for annually by the home fleet and visiting cruisers to the Sligo Yacht Club. Nowadays the event consists of five races which take place over a single weekend during the summer in Sligo Bay. The series is no longer one design but handicapped under the IRC system. The series winner under ECHO receives the Elsie Trophy, a handsome piece of cut glass, equally sought by keen racers. The Ladies Cup is kept at the Museum in Sligo.
One tradition persists. The owner of the winning boat has the cup filled with an alcoholic cocktail as potent as his pocket allows which everyone is invited to share.
The happy sailors set course for home and the Cup is returned to her place of honour in the Sligo Museum.