Australia's Europe-class sailor Sarah Blanck has slipped out of the top three but remains a strong medal chance with one race to sail at the Athens Olympics.

Blanck, who earlier in the week was leading the class, slipped to fourth place on Friday but could still clinch silver or bronze with a top finish on Sunday.

She is three points behind Denmark's Signe Livbjerg sitting in third, and could gain enough ground to win silver, although gold is unlikely with Norwegian double world champion Siren Sundby holding a 20 point lead.

The men's world champion 470 pair of Nathan Wilmot and Malcolm Page are an outside chance of a bronze medal, sitting in 5th place ahead of their final race on Saturday local time.

The pair need to make up at least 12 points to take the bronze and are out of contention for anything better.

The women's 470 pair of Jenny Armstrong and Belinda Stowell failed to defend their Olympic title, with the gold won by Greece with one race to spare.

Australia's Anthony Nossiter in the Finn class is sitting in 6th place but is out of medal contention with the last race to be sailed on Saturday local time.

Laser sailor Michael Blackburn is in 7th place and is to sail his final race on Sunday.

Windsurfer Jessica Crisp is looking good in 5th place after six of 11 races, while Lars Kleppich is in 7th place also with five races remaining.

Chris Nicholson and Gary Boyd in the 49er had a successful day scoring a 1st, 7th and 10th in their three races to be in eighth place with two races remaining.

Brought to you by AAP © 2024 AAP