San Francisco Fire Department spokeswoman Mindy Talmadge confirmed to Press Association Sport that Andrew 'Bart' Simpson was taken to St Francis Yacht Club on the shore where paramedics performed emergency resuscitation, but he was pronounced dead.
She said another sailor suffered minor injuries.
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Scotland Yard said the male youths will appear in custody at Westminster Magistrates' Court on Saturday.
Windy this weekend with gales across northwestern parts of the UK. Rain spreading southeast.
Greater Manchester Police said "inquiries are ongoing to fully understand the circumstances of the incident."