Skandia, the international long-term savings company, today announced it will continue to sponsor Skandia Cowes Week through to 2008.
At a ceremony celebrating the company's 10th anniversary of sponsoring the event, Skandia's group marketing director, André OSZMANN and the chairman of Cowes Week Sponsorship Limited (CWSL) Dick BRADBEER, signed the contract that seals the deal between Skandia and Cowes Week Sponsorship Limited.
André OSZMANN said: "We are delighted to be able to confirm our continued long-term investment in Skandia Cowes Week, which is the premier event in our 'Set Sail' sponsorship portfolio. This event has developed into a major international success story and it just gets bigger and better each year. The success we've had with Skandia Cowes Week was a key factor in our decision to sponsor Australia's oldest and largest regatta, Skandia Geelong Week which is similar to Skandia Cowes Week albeit not yet quite so large.
"One of the reasons Skandia Cowes Week works so well for us is that there are very few sports' sponsorships that allow the sponsors to physically get involved in the actual event and taking part in the racing is an important part of what we can offer some of the 1,500 corporate guests we invite to come along each year."
In addition to corporate entertaining, Skandia Cowes Week attracts massive media attention. The value of the media coverage for Skandia from last year's event was over £3 million and, overall, Skandia gained a 229 per cent return on its investment (ROI), which was an increase of 24 per cent on the previous year.
André OSZMANN continues: "It's our aim to help Skandia Cowes Week continue to grow and flourish and we invest a high level of time and resource as well as money into the event. Our involvement is, I believe, far more than a standard sponsor - we are a partner with a real commitment to making this event continue to be the number one in the world."
Stuart QUARRIE, chief executive of CWSL, said: "The extension of Skandia's commitment to the event is fantastic news for everyone involved. From the strategic planning viewpoint it enables us to have a solid platform from which to further develop and enhance the event to everyone's benefit. Skandia shares our vision and objectives to allow Skandia Cowes Week to be as inclusive as possible for the thousands of sailors competing each year as well as the tens of thousands of visitors who come to spectate. Together we will ensure that both the racing and the on-shore activities continue to attract a wide audience and provide all involved with a rewarding and memorable experience."