In 1929 the International Extraordinary Hydrographic Conference established the nautical mile at 1,852m or roughly 2,025.4yd.
2025.4yd / 60 min = 100yd / X min
X = 2.9624 min = 2:58 to the nearest second.
Unless you use the 2000yd nautical mile in which case it's exactly 3 minutes.
