In this paper we analyze the impact of a circular disc on a free surface using experiments, potential flow numerical simulations and theory. We focus our attention both on the study of the generation and possible breakup of the splash wave created after the impact and on the calculation of the force on the disc. We have experimentally found that drops are only ejected from the rim located at the top part of the splash -giving rise to what is known as the crown splash-if the impact Weber number exceeds a threshold value We crit ≃ 140. We explain this threshold by defining a local Bond number Bo tip based on the rim deceleration and its radius of curvature, with which we show using both numerical simulations and experiments that a crown splash only occurs when Bo tip 1, revealing that the rim disrupts due to a Rayleigh-Taylor instability. Neglecting the effect of air, we show that the flow in the region close to the disc edge possesses a Weber-numberdependent self-similar structure for every Weber number. From this we demonstrate that Bo tip ∝ We, explaining both why the transition to crown splash can be characterized in terms of the impact Weber number and why this transition occurs for W e crit ≃ 140.Next, including the effect of air, we have developed a theory which predicts the timevarying thickness of the very thin air cushion that is entrapped between the impacting solid and the liquid. Our analysis reveals that gas critically affect the velocity of propagation of the splash wave as well as the time-varying force on the disc, F D . The existence of the air layer also limits the range of times in which the self-similar solution is valid and, accordingly, the maximum deceleration experienced by the liquid rim, what sets the length scale of the splash drops ejected when W e > We crit .