Whitbread 10m race up for grabs

Whitbread is reviewing its 10m sponsorship of the Round the World Yacht Race and is already hunting for potential sponsors to underwrite the 1997 race.

The company, whose name has been synonymous with the nine-month race for 23 years, will still fund the event if a sponsor is not found.

“What has happened is that the race has grown out of all proportion in terms of the sort of event it is,” says a spokeswoman for Whitbread.

Alan Pascoe’s sponsorship firm, API Sponsorship, has been approached to seek alternative sponsors – with the possibility of Whitbread retaining ownership of the event. Part of the review could mean that Whitbread sells the title rights.

API Sponsorship spokesman Alun James says one reason behind Whitbread’s decision to review its sponsorship of the ocean race is that Whitbread is not an international brand.

The event, which has its starting and finishing point in Southampton, has become much larger and would be more suited to a multinational company, says James. A sponsorship offer made by a tobacco company has been turned down.

However, it is understood that API Sponsorship is in negotiations with a communications company and an airline.

Whitbread spends about 5m annually on sports sponsorship, including the Stella Artois Queen’s Tennis Tournament.

Comments

    Leave a comment

    Close

    Discover even more as a subscriber

    This article is available for subscribers only.

    Sign up now for your access-all-areas pass.

    If you're an existing paid print subscriber find out how to get access here.

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now

    Got a question?

    Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

    If you are looking for our Jobs site, please click here

    Subscribers enjoy unlimited access to unrivalled coverage of the biggest issues in marketing, alongside practical advice from the digital experts at Econsultancy.

    With a subscription to Marketing Week Premium you will get full access to:

    > World-renowned columnists

    > Analysis & case studies

    > Exclusive leading-edge insight

    > Carefully curated reports & briefings from Econsultancy

    > Plus, much more including a £300 discount for the Festival of Marketing

    Subscribe now