Man killed in NSW yacht race

One man has died and another suffered serious injuries after two yachts collided during a race north of Sydney.

The yachts were competing in a race in Pittwater when the accident happened near Newport on Saturday afternoon.

One man died at the scene.

A second man, 72, was airlifted to Royal North Shore Hospital in a critical condition.

CareFlight paramedics said he lost a lot of blood and suffered serious leg injuries.

The yachts have been towed from the scene for forensic examination.