A wind powered craft carrying a generally vertical mast which is rotatable about its vertical axis, having a sail carried by the mast with its bottom edge attached in proximity to the bottom of the mast and extending to an attachment point in proximity to the top of the mast. A generally horseshoe-shaped member having an open end is and extending around said mast. The mast being rotatable within the horseshoe-shaped member. A bearing supported stationary member at the top of the mast is carried by the mast while allowing the mast to rotate. A support stay runs from the horseshoe-shaped member to the bearing supported member to support the horseshoe-shaped member. Additional stays are attached to the horseshoe-shaped member and splayed to attach to opposed sides of the hull of the watercraft. The sail is reefed around the mast through the open end of the horseshoe-shaped member.