The tournament is not only significant for crowning European champions but also for allocating spots for next year's Olympic Games in France across three out of the 10 Olympic classes: Men's Dinghy (49er), Women's Dinghy (49er FX), and Mixed Multihull (Nacra 17).

Following the World Championship held in The Hague, Netherlands, last August, where 107 spots for Paris 2024 were awarded, this is the first major event for these three fleets with the aim of reaching next year's global gathering.

In Portugal, only three entries for the upcoming Games are at stake, one for each class and nation. Competing at the Vilamoura Sailing Center are 55 women's dinghy teams, 91 men's dinghy teams, and 38 mixed multihull pairs.

It is important to note that the spots will be determined by each National Olympic Committee. They will be granted the right based on the results of this competition. The winning nation, rather than the individual athlete, will be the recipient of the ticket to the Games, although the specific athlete may later be determined as deserving of representing their nation by their country's own Olympic Committee.