GLOBAL investment management group Aberdeen Asset Management has been announced as the new title sponsor of Cowes Week.
For the next three years the world-renowned regatta will be known as Aberdeen Asset Management Cowes Week.
The announcement of a new sponsorship agreement for the event was made this morning at a press conference at the Royal Thames Yacht Club in London. The size of the sponsorship package was not revealed.
The deal means an immediate reduction in race entry fees, a move that will be welcomed by the 1,000-strong Cowes Week racing fleet. Other new developments are in discussion and will be shared over the forthcoming months.
John Grandy, chairman of organisers Cowes Week Ltd, said: "We are delighted to have formed this new relationship with Aberdeen Asset Management and are looking forward to working together to develop Cowes Week further, for the benefit of everyone involved in this great regatta."
Martin Gilbert, chief executive of Aberdeen Asset Management, added: "We are very proud to be supporting one of the world's premier sailing regattas. Aberdeen Asset Management Cowes Week is set to be a tremendous success and we are very much looking forward to enhancing the experience of both the crews and spectators who will descend upon the Isle of Wight later this year."
Aberdeen Asset Management Cowes Week 2011 will run from August 6-13.