Pictured: British businessman, 44, found dead floating in the sea with head injuries off Greek holiday island after getting separated from friends during night out

• The sailor has been named as investment developer Stuart Bradshaw

A British sailor who was found dead in the sea off a Greek island has been named as Essex businessman Stuart Bradshaw.

Investment developer Mr Bradshaw, 44, who lived near Colchester, had flown out to take part in a popular sailing regatta off the idyllic island of Spestes before his death.

A police investigation was launched into his death after reports emerged that he had been found with an injury to the left side of his head.

Greek officials yesterday confirmed that they have ruled out any criminal case and that his cause of death was accidental drowning, news site Protothema reports.

Mr Bradshaw had gone to a bar with friends, the outlet reports, and did not follow them back to their hotel, before he was found dead the next day next to the Tsaldari pier in the Old Port.

His family paid tribute to the father-of-two today, saying in a statement: 'Stuart was so loved and will be missed by many. We have been overwhelmed by the support shown and the many kind words that have been shared by those who knew him.

'As we try to come to terms with this tragic accident, we request that we are given the space and privacy needed to grieve as a family,' they added.

The body of Mr Bradshaw was found floating in the sea in the island's old port area, officials said.

An official described a 'gash' on the side of Mr Bradshaw's head as 'puzzling' ahead of a post mortem examination.

It is believed that Mr Bradshaw had arrived on the island with a group of friends to take part in the three-day Regatta which attracts hundreds of sailing fans each year, in his 26-foot US Cup-style boat.

One local said the tragedy had left the island saddened and shocked - he said: 'This is the Monte Carlo of Greece and nothing like this ever happens here. We're really shaken and upset.'

Spetses - which can be reached from the Greek capital Athens in two hours by ferry - has a reputation as a playground for the rich and famous.

It is home to some of the wealthiest people in Greece - the founder of easyJet, Sir Selios Haji-Ioannou is among the super-rich who have luxury villas there.

It has a population of just 3,700 and its annual regatta which attracts entrants from all over Europe.

Founded in 2011 the event is the most popular sailing event in Greece and involves up to 400 traditional wooden boats.

The tragedy brings the death toll of tourists in Greece to eight since the beginning of last month.

Most of the victims, including the British TV doctor presenter Michael Mosley, died while hiking in blistering temperatures that have hit the Mediterranean in recent weeks.

Daily Mail columnist and health writer Dr Mosley tragically died from 'heat exhaustion' after 'sitting down and losing consciousness' while walking across the Greek island of Symi, police said.

The 67-year-old was found in a rocky area at the resort of Agia Marina on June 9 after a five day search.