Challenge Business announced today that BP, one of the largest oil, gas and energy groups in the world, is to be a yacht sponsor for the next Global Challenge round-the-world yacht race.
The yacht "BP Explorer" will set sail in September 2004 along with 11 other yachts in what has been dubbed the "world's toughest yacht race."
Sir Chay BLYTH, Executive Chairman of Challenge Business said: "We're absolutely delighted to have BP as a sponsor of the Global Challenge.
"This is a major plus for the event as a whole. To have the support of one of the world's largest companies, with one of the most powerful brands, bodes well in the lead-up to the Global Challenge 2004-2005."
"BP was also a yacht sponsor in the BT Global Challenge 2000/01:"
explained Dick OLVER, Deputy Group Chief Executive of the BP Group: "BP's expectations for the last event were met and exceeded. We used the 2000/01 race as a launch vehicle for BP's new brand, at a time when we were integrating our many constituent companies, involving employees across all five continents. Like the race teams themselves, successful organisations are focused on performance.
"We are excited about the opportunities for the 2004-2005 race to promote BP's brand to our customers, engage our employees, and benefit from team-working lessons during the world's toughest yacht race."
The Global Challenge 2004-2005 will feature 12 teams for the 10-month event, which sails 30,000 miles the 'wrong way' around the world against the prevailing winds and currents. Crewed by amateurs, the fleet of identical boats ensures that only seamanship, skill and determination make the difference between winning and losing.
Sir Chay commented: "The Global Challenge has always demonstrated its ability to attract world-class organisations who can benefit from the wide interest that the race attracts. The fundamentals that underpin the race reflect perfectly BP's total commitment to safety and the development of a strong cohesive team across the world."