Armel Le Cléac'h has been rescued at sea after several vessels were diverted to his assistance.
A Panamanian cargo ship was first on the scene, arriving in the area mid-afternoon, and successfully carried out the rescue manoeuvre.
Le Cléac'h is now aboard the cargo ship and in good health.
Team Banque Populaire has thanked everyone who contributed to the rescue's success, particularly race management and the cargo ship's crew. The team also acknowledged those now working to recover the boat itself.
"The whole team is reassured to know Armel is safe and is looking forward to seeing him back on dry land in a few days," the team said.
No further detail has been released on what caused the incident or the exact condition of the boat. Recovery efforts for the vessel continue.