Purse increased for Gold Cup

As Investors Guaranty come in as sponsors of Bermuda's Grade 1 match racing event

Friday February 21st 2003, Author: James Boyd, Location: United States
The Bermuda Gold Cup match racing has a new sponsor with an impressive amount of prize money now up for grabs for the winners.

Investors Guaranty is a Zurich-based affiliation of companies who deal in insuarnce technologies, asset management and finance, legal systems, etc. Their original founding member is the Bermuda-based Investors Guaranty Fund Ltd. Aided by this new sponsorship prize money for the Gold Cup has been increased to $100,000.

32 teams of sailors will be taking part in his ISAF Grade 1 match race regatta that runs from 18-26 October in Hamilton, Bermuda. The teams will includ 16 unseeded hopefuls as well as 8 women's teams. This ISAF Grade 1 match race regatta this year celebrates its 55th year.

At the annoucement today in Auckland, Scott MacLeod, Director of the Swedish Match Tour, said that they currently have the prototype under construction for a one design match race boat. Ultimately the plan is for a fleet of boats to be shipped around between events in the Swedish Match Tour. The boat is a 11.9m Pelle Petterson design which is a scaled down version of an America's Cup class yacht (bigger, but not dissimilar to the one K-Yachting are marketing).

The Swedish Match Tour this year has had to postpone the Steinlager Line 7 event in New Zealand due to sponsorship problems, but they have added the Elba Cup to their programme.

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