After two years of not having a headline sponsor, Cowes Week has announced its new sponsor.
At a press conference held at the prestigious Royal Thames Yacht Club, in Knightsbridge, London, Aberdeen Asset Management was proudly unveiled.
Entry fees to be cut
Update 10:57: Those entering Cowes Week will be please to hear that, due to the new sponsorship, there will be a reduction in race entry fees.
Update 10:41: It’s being reported that “the firm will sponsor the week long sailing event for three years.”
Update 10:48:The Chief Exec of Aberdeen AM Martin Gilbert is quoted as saying that they hope to raise the companies brand awareness in the UK.
Option to extend beyond three years
He suggested to Money Marketing that the deal could extend beyond the initial three-year term. They quote him as saying, “We think this is a big step for our brand and we would look at other opportunities if they came along. If you look back 10 years ago, 75 per cent of our clients were in the UK and 25 per cent were abroad, that has now completely switched around as we have become a leading emerging markets provider and we would like to build up our UK client base.”
Slightly odd use of language from them at the end of the quote, “… we are very much looking forward to enhancing the experience of both crews and spectators who will descend upon the Isle of Wight later this year.”
What’s it going to be called?
The event is expected to be called Aberdeen Asset Management Cowes Week – so hopefully they’ll be ordering some extra long flags to fit the name on to.
They’ve got a Website up for it already called AMMCowesWeek