CLV Clipper Ven.

RNS Number:5723C
Clipper Ventures PLC
25 April 2001

  
                                                                 25 April 2001

                             CLIPPER VENTURES PLC

        ACQUISITION OF "AROUND ALONE" ROUND-THE-WORLD YACHT RACE EVENT

Clipper Ventures PLC ("Clipper Ventures"), the AIM quoted yacht racing, marine
events, hospitality and training company, has acquired the business,
trademarks, goodwill and rights to the Around Alone single-handed yacht race.

This will be Clipper Ventures' second major round-the-world yacht racing event
and complements its existing Clipper round-the-world race for identical 60ft
yachts with fee-paying crew which runs every two years - the current race has
recently departed from San Fernando in the Philippines on the 1,350 nautical
mile leg to Singapore.

The Around Alone is the longest and one of the toughest single-handed yacht
races.  It attracts world class competitors, many of whom are professional,
entering with full commercial sponsorship and new high technology race yachts
- purpose-built for the event.  In the 1998 Around Alone, the top competitors
had campaign budgets of more than $3 million, indicating total funding raised
by competitors and event owners of more than $25 million.

Formerly the BOC Challenge, the Around Alone is a 27,000-mile solo yacht race
which spans some of the world's roughest and most remote oceans.  Unlike the
recent Vendee Globe race, which has its roots in Around Alone, the Around
Alone is a 'stopping' race. The sailors compete in four long-distance race
legs, each approximately 7,000 nautical miles.  This format generates a huge
following worldwide, particularly in those countries hosting the start,
stopovers, finish and with competitors in the race.  Historically the start
and finish have been hosted in the USA and stopovers have been in South
Africa, Australasia and Latin America.  Competitors from 19 different
countries have raced in the Around Alone, with the USA, France and the UK
being the top three providers.  Race rules allow for the sailors to make
repairs to their yachts during stopovers; because of this, competitors push
themselves and their yachts to the very limits.

Held every four years, the 2002 event will mark the 20th anniversary of one of
the world's most intrepid personal sporting challenges.  World class sailors
such as Mike Golding (UK), Christophe Auguin (France), Brad van Lieu (USA),
Philippe Jeantot (France), Isabelle Autissier (France), Giovanni Soldini
(Italy) and Marc Thiercelin (France) have all competed in the event.  For the
2002 event, 79 applications have already been received from yachtsmen
representing 17 different nations.

Sixteen yachts entered the last Around Alone which started in September 1998
and generated some 500 hours of TV coverage and 6,000 press articles around
the world.

Clipper Ventures has acquired from Great Adventures Limited all intellectual
property rights, brands, sponsorship relationships and associated goodwill.
The value of tangible assets acquired is not material.  Clipper Ventures
anticipates that the Around Alone 2002 will make a substantial contribution to
its turnover and profits in its financial year starting 1 May 2002 - the year
in which the 2002 event will start.  Clipper Ventures expects to be able to
use much of its existing organisational infrastructure currently used to
support the Clipper round-the-world races to also support the Around Alone.
                                      
Chairman, Sir Robin Knox-Johnston commented :

"We are delighted to add the Around Alone race to Clipper Venture's portfolio
of events.  It is a long and very tough race which draws its entrants from the
ranks of the world's best single-handed offshore racers.

"The Around Alone is a major, high profile sporting and media event around the
world.  Our task now is to maximise the revenue and sponsorship opportunities
which should make the Around Alone race as important to Clipper as our
existing round-the-world race."


                                     Ends


For further information, please contact :


Clipper Ventures PLC                                              023-8023-7088
Sir Robin Knox-Johnston, Chairman
William Ward, Chief Executive
Richard Cooper, Managing Director

Buchanan Communications                                           020-7466-5000
Steve Liebmann or Ed Cowdery

Clipper Ventures (LSE:CLV)
Historical Stock Chart
From Jun 2024 to Jul 2024

Clipper Ventures (LSE:CLV)
Historical Stock Chart
From Jul 2023 to Jul 2024