But the competition has rarely been as exciting as in 2013, where Spithill's Oracle Team overhauled a 8-1 deficit to defeat Emirates Team New Zealand 9-8 in a best of 17 contest. 

The 35-year-old becomes the third Australian to win the award, following laser champion Tom Slingsby in 2010 and Mat Belcher last year.

Belcher and 470-class crewmate Will Ryan were among the other nominees for this year's award, along with New Zealanders Peter Burling and Blair Tuke, Britain's Finn champion Giles Scott and American Bill Hardesty.

"With such a fantastic group of nominees it's quite humbling to be included in the same group," said Spithill.

"I feel a little awkward winning this award.

"It seems it is an individual award and in my case it could not be further from the truth.

"What happened on San Francisco Bay was an incredible team effort.

"I was just a small piece, I would like to accept the award on behalf of a great group of people, Oracle Team USA."

Kahena Kunze and Martine Grael were awarded the female prize after a superb year
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Like Spithill, the nomination of the two 23-year-old's, Kunze and Grael was no surprise after a year in which they won the ISAF World Championships in Santander in addition to extensive World Cup success. 

The duo beat off opposition from Great Britain's kitesurfer Steph Bridge and windsurfer Charline Picon of France.

It marks the fourth time a Brazilian has won one of the two prizes, following Torben Grael, the father of Martine, in 2009 and Robert Scheidt in 2001 and 2004.

"This prize is the recognition for a marvellous year, we are very happy and it's really hard for me to find the words to express our feelings," said the younger Grael.

Kunze added: "We're very happy, just by being part of this ceremony, surrounded by all these people, it would have made our night".

"This prize means a lot, and we cannot take the smile off our faces."

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October 2014: Australians Belcher and Spithill lead nominations for 2014 World Sailor of the Year
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November 2013: ISAF sailors of the year announced as 470 class scoops both awards
September 2013: Olympic great Sir Ben helps Oracle Team USA complete amazing comeback to win America's Cup