Those finishes leave Maloney on 13 points, one ahead of Spain’s 21-year-old Joan Cardona.

Cardona won the second race and was runner-up in the third, but an 11th-place finish in the opener left him playing catch-up.

Cardona came fourth overall at the Finn European Championships in Vilamoura three weeks ago, retaining his under-23 title in the process.

Hungary’s European champion Zsombor Berecz, is in third position on 21 points, after winning the day's last race.

Spain’s Alejandro Muscat has 23 points to occupy fourth place while Maloney's America’s Cup team mate and defending champion Josh Junior is in fifth position.

There was a poor end to the day for the world number one from Switzerland, Nils Theuninck, who dropped from second to eighth position after placing 22nd in the third race.

Britain’s Rio 2016 gold medallist Giles Scott, four times a winner of this event, also had an indifferent day and has 44 points in 14th position.

The 10-race series is due to conclude on Wednesday (May 12).

Nearly 60 sailors from 33 nations are taking part in the final major event before the Tokyo 2020 Olympics, which also offers a final opportunity of Olympic qualification for one European and one African sailor.

The 65th Finn Gold Cup comes at a difficult time in the history of this outstanding class, both because of COVID-19 restrictions and the uncertainty over its inclusion at Paris 2024.

"It’s all a bit of a mess in general," Scott said of the situation.

"Obviously the biggest thing I always come back to is that it not necessarily the class, but it’s the people and I think to my mind that is the key thing here, say, if I was to go back 10 years and suddenly not have an Olympic option, which you could argue the younger guys won’t have.

"It’s not necessarily a problem for me because of where I am in my career but that being said, it’s still a massive shame and if it’s deemed by the powers that be that the time is up for the Finn, that’s sad enough in itself but I think catastrophe is the people that are being overlooked.

"Where do they move to?

"That’s not me saying I am completely OK with the Finn going out because I am not.

"I would love to see it stay in.

"But if you suddenly wipe out the people, then that really doesn’t sit very well with me."

Berecz, who became the first Hungarian world champion when winning the Finn Gold Cup in Aarhus in 2018 and is now a double European champion, added: "I believe that every one sailing this class is of course disappointed but it’s not about me anymore.

"I will keep sailing the class but it’s more about the next generation.

"Even in my country over the last year there have been 10 new guys joining the class aged from 22 to 27 years old.

"It’s such as great fleet and such a great boat, and it’s still growing.

"It would be a huge missed opportunity for them not to be able to fight for a chance to be in the Olympics."

Junior added: "The Finn for us has provided a huge opportunity to grow as sailors and ultimately being able to sail the Finn, being stronger and learning the techniques and the equipment in the Finn, really gave us a head start into getting into the America’s Cup and big boat sailing, so you know it would be a shame if it doesn’t stay in the Olympics."