Sixteen-year-old Australian round-the-world sailor, Jessica Watson, waves to well-wishers as...

Sixteen-year-old Australian round-the-world sailor, Jessica Watson, waves to well-wishers as her yacht 'Ella's Pink Lady' crosses the finish line at the entrance to Sydney Harbor on May 15, 2010. Credit: AFP / Getty Images

SYDNEY, Australia - Jessica Watson, the Australian teenager who left Sydney Harbor seven months ago in a bid to become the youngest person to sail solo nonstop and unassisted around the world, was greeted yesterday by hundreds of boats and thousands of spectators as she returned home.

The end of the 16-year-old's 23,000-nautical-mile journey, which attracted praise and criticism, was televised live nationally on Australian television. Prime Minister Kevin Rudd was among the first to welcome her ashore by the Sydney Opera House.

"It is just completely overwhelming right now," Watson told the gathered crowd after earlier tearfully hugging her parents as she stepped ashore. "It started off as a personal challenge and it has become so much more," she said.

While Watson achieved her goal of becoming the youngest to achieve the feat three days before her 17th birthday, her effort won't be considered as an official world record because the World Speed Sailing Record Council discontinued its age-related categories.

Fellow Australian Jesse Martin holds the council's record for being the youngest to sail solo and nonstop around the world without help, doing so at 18 in 1999. Martin was among the official welcoming party today.

"It's a shame that my voyage won't be recognized by a few organizations because I'm under 18, but it really doesn't worry me," Watson wrote May 6 on her blog.

Watson, who began sailing at the age of 8, set out in her 34-foot boat Ella's Pink Lady on Oct. 18. Her journey has been backed by more than 40 sponsors and suppliers.

Promotional and endorsement deals could earn Jessica at least $1 million, Monash University marketing lecturer Peter Scholem said by phone from Melbourne. "For the young market she would be an extremely powerful image," he said. "For any individual sponsorship you are talking about several hundreds of thousands of dollars."

Jessica's clean-living, healthy image would attract corporations such as food companies, while endorsements could include wearing particular clothing and accessories as she makes appearances, he said.

"She is basically a latent millionaire, all that has to happen now is for it to be negotiated," Scholem said.

Critics have argued that Watson didn't travel far enough north of the equator for her journey to count as a true circumnavigation. Her management team said that she didn't need to adhere to the council's rules since it won't recognize her voyage.

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