PORTLAND, Maine (NEWS CENTER) -- Some of the most famous schooners in the country will be racing against some hometown favorites in Portland Harbor next month.

SchoonerFest, organized by Tall Ships Portland, is Portland's newest annual sailing regatta for traditional sail. It will be held June 24-26.

PHOTOS: SchoonerFest

The 120-foot Schooner Adventure from Gloucester and the 71-foot Schooner Alert from Bailey Island are among the schooners that will be featured in the event.

The public will be able to ride aboard with tickets starting at $42. Spectators can watch for free from the Eastern Promenade at Ft. Allen Park.

Regatta prizes will include the Rybacki Cup for first Schooner overall to finish, the Alden Cup for the first John Alden design to finish and the Shipyard Cup for the crew demonstrating the most spirited attitude toward the racing.

Tall Ships Portland is a non-profit that provides 1-week sail training opportunities with academic credit to high school students from Maine. SchoonerFest will help benefit these training programs.

To reserve space on board one of the schooners in the regatta, parade or evening sunset cruises, go to www.tallshipsportland.org​.