NEW sponsors are being sought for Cowes Week, after Aberdeen Asset Management announced 2015 will be the last year it is involved.
The Isle of Wight County Press reported in February that organisers were negotiating with AAM, which was coming to the end of its five-year sponsorship deal.
An announcement today (Thursday) revealed a different company will have the opportunity to puts its name in front of the historic race's title after this year's event.
Aberdeen Asset Management was brought on board as title sponsor in 2011, two years after the previous deal with Skandia ended.
CEO Martin Gilbert said: "We’re very proud of our association with Cowes Week. It’s a fantastic regatta that has delivered huge benefits to the Aberdeen brand. We’re committed to supporting Cowes Week Limited in the development of the event and are discussing ways in which we can remain involved with Cowes Week in the future."
Peter Dickson, chairman of Cowes Week Limited, praised the company for it's involvement with the event.
"Our focus now is to build on the success with new commercial partners and we are grateful to Aberdeen for their continuing support as we search for new sponsors."
CWL is also launching three, new partnership packages for companies looking to make significant investments.
Smaller businesses can apply for product endorsement packages.
This year's Aberdeen Asset Management Cowes Week takes place between August 8 and 15.