Clipper Ventures plc, the AIM quoted marine sports company, today announces the signing of a marketing alliance with Global Sportnet, (GSN), the WPP owned sports marketing agency.
This alliance will result in a combined targeted revenue of US$5.5 million for the 2006 5-Oceans Round the World Yacht Race and the formation of a race management board to manage and market the 5-Oceans solo grand prix.
The deal will cover the next two events, which are due to be run in 2006 and 2010 respectively, and GSN will be exclusively responsible for the marketing of the broadcast and sponsorship rights to these races on a worldwide basis.
5-Oceans was recently acquired by Clipper Ventures Plc and has contributed more than £0.4m revenues in the financial year ending April 2003 and the Board is hopeful that the GSN partnership will assist in increasing this contribution in future years.
Commenting on today's announcement, Sir Robin KNOX-JOHNSTON, Chairman and the first man to sail solo non-stop around the World, said: "5-Oceans will celebrate its 25th anniversary in the 2006/7 race. The new Grand Prix format, coupled with the GSN's marketing firepower, will make it the most successful edition yet. The notice of race has been published and interest from syndicates is at an all time high. Our partnership with GSN will help further develop 5-Ocean's commercial potential to bring it to the fore of both the yachting and sporting calendars."
William WARD, CEO of Clipper Ventures, added: "This alliance demonstrates that Clipper Ventures is truly considered to be at the forefront of global yachting events and is indicative of the potential sponsorship value of our events."
Thomas MARTENS, CEO of Global Sportnet, said: "Sailing is a growth sport and we love the heritage of the 5-Oceans and the modern vision that Sir Robin has for its future. Our relationships with the World's broadcaster networks will deliver significant TV exposure to sponsors and cities backing the race. We also look forward to breaking new ground by delivering the action to a whole new fan base through our pioneering broadband TV platform. Solo round the World yacht racing is the ultimate test of man and machine; it is an utterly compelling proposition."