sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : Sailing picks up in Asia as European sponsors pull out
Sailing picks up in Asia as European sponsors pull out

'Monsoon Cup Day 6 - 7'    SubZero Images/Monsoon Cup

Like many other professional sports, sailing was not spared by the 2008 global financial crisis as sponsors in Europe pulled out and governments were not keen to host large-scale tournaments. However, halfway across the world, Asia’s resilient economy fueled by strong domestic consumption from a rapidly growing population raised hope of providing the boost the ailing sport needed to tread Europe’s rough water.

The World Match Racing Tour, an international sailing championship which first kicked off more than two decades ago, was facing bankruptcy following the eurozone debt crisis when Malaysian businessman Patrick Lim picked it up.
'Because of the financial crisis, it was in a state of almost neglect by the time we bought over,' Lim told reporters in an interview in Kuala Lumpur.

Lim said although the 'traditional' sailing countries in Europe were keen on the sport, they could no longer afford to host the tour, which can chalk up to US$6 million per venue. Whereas Asian countries, said Lim, despite being fairly new to sailing would grab the opportunity to host a world championship for the tourism dollars and to notch an identity in the global sports arena.

'The Asian economy views sport very differently. They look at it as a platform to launch a product,' Lim said. 'They want to stand out in the world, and sport is a good platform,' he added, citing China as an example. However, the biggest global sponsors still come from Europe, where large corporations eye robust Asian markets to expand their businesses.

In February, London-based global foreign exchange broker Alpari inked a title sponsorship deal with the sailing regatta, joining sportscar maker Lotus and British top-end jewelers Garrard as the tour’s main sponsors. Lim said it needed more than just deep pockets to host a world championship as venues need to be up to the mark with the right infrastructure and boats. 'In Asia, while they can afford it, they still need time to set things up,' the 47-year-old Lim said, adding that the tour helps smaller sailing communities in South Korea, Malaysia and Singapore to set up their own racing circuits to develop the sport in the region. To boost viewership and rekindle interest in the tour, venues were revamped so that races could take place closer to shore. Previous championships were held in deeper seas, far away from spectators which Lim said could be 'boring.'

Torvar Mirsky and Johnie Berntsson collide during day 2 at the Monsoon Cup 2011. Kuala Terengannu, Malaysia. 24 November 2011. Photo: Gareth Cooke/Subzero Images. -  © Gareth Cooke/Subzero Images  


by Reuters

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=104948

4:11 PM Sun 23 Dec 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.







News - USA and the World





















2014 Rolex Big Boat Series - Farr 40 Day 4 by William Wagner, San Francisco














































2014 Rolex Big Boat Series - Farr 40 Day 3
America's Cup: Luna Rossa sailing with two foiling AC45's + Video
Extreme Sailing: Emirates Team NZ retain second overall
ISAF Sailing Worlds, Santander - Rio Olympic Laser spots snapped up
Rolex Swan Cup - All set for final showdown
Upper Midwest sailors need help to take it to the next level
ISAF Sailing World Championships - RS:X action begins in Santander
ISAF Sailing Worlds, Santander - Americans rise in Laser and Radial
Extreme Sailing Series - A remarkable penultimate day’s racing + Video
Marseille One Design - GC32 GDF Suez unstoppable in the light
Rolex Swan Cup - Day 3 images by Carlo Borlenghi
ISAF Sailing World Championships - Images of the leaders in Santander
Rolex Big Boat Series - Good day for Double Trouble
Rolex Big Boat Series - Day 2 images by Erik Simonson
Royal Cup Marina Ibiza - TP52 fleet ready for tricky race tracks
Rolex Big Boat Series - Plenty maintains lead
2014 Asia Pacific Student Cup - Count down begins
Extreme Sailing Series: Live coverage of Day 3 - view here
Volvo Ocean Race 2014-15 - Going away
Volvo Ocean Race 2014-15 - Practice makes perfect
2014 J/70 World Championship - Contrasting conditions on Day 4   
Rolex Big Boat Series - 50 years of big boat racing: a retrospective   
2014 Rolex Big Boat Series - Day 2   
Snipe Western Hemisphere and Orient Champ: Rios takes the Championship   
Volvo Ocean Race: Leg Zero signals start of the significant racing   
Extreme Sailing Series: Physically demanding racing for BAR on Day 2   
Emirates Team NZ: Holding second overall after Day 2 in Istanbul   
Extreme Sailing Series: A force to be reckoned with in Istanbul +Video   
ISAF Sailing Worlds - Day 1 images by Jesus Renedo and Pedro Martinez   
Marseille One Design: GC32's Armin Strom storms ahead on day 2 + Video   
ISAF Sailing World Championships - Racing underway in Santander +Video   
ISAF Sailing Worlds, Santander - Erika Reineke claims Radial race win   
Santander Worlds 2014 Mat Belcher (Part II) *Feature   
Rolex Swan Cup - Mistral keeps fleet shoreside   
PWA Cold Hawaii World Cup rescued by wave of local support   
ISAF Sailing World Championship, Santander - Opening ceremony images   
Volvo Ocean Race 2014-15 - Team Alvimedica geared up for Leg Zero   
J/70 World Championship 2014 - Healy surfs into lead   
2014 Rolex Big Boat Series - Day 1   
2014 Rolex Big Boat Series - Gripping first day on the Bay   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT