JP Morgan renews sailing sponsorship 11/01/2010 |
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JP Morgan Asset Management has announced a three-year extension to its sponsorship of the Round the Island Race.
The investment bank, which first backed the annual regatta in 2005, also said it would sponsor British Olympic sailor Ben Ainslie until 2012 when he hopes to compete in his fifth Olympic Games and claim his fifth medal.
The Round the Island Race, which was first staged in 1931, now attracts more than 16,000 sailors every year and has become the fourth-largest participation event in British sport.
JP Morgan’s sponsorship deal is believed to be worth about £500,000 over three years and will pay for a new tracking system which is expected to be introduced for this year’s race on June 19, as well as free water taxis in Cowes.
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