JP MORGAN Asset Management has extended its sponsorship of the Round the Island Race for a further two years.
JP Morgan has been title sponsor of the Isle of Wight sail race since 2005 and during this time has helped the race celebrate its 80th year in 2011, introduce free tracking for all competitors and achieve a record entry of 1,908 boats.
Jasper Berens, head of UK Funds Business, said: "The charity aspect of this race is really important to us with more than £500,000 raised in recent years.
"It’s great to be a part of this fantastic event and we look forward to continue to work with the Island Sailing Club (ISC) to develop the race further."
Meanwhile, the Ellen MacArthur Cancer Trust will continue to be the official race charity for another two years, through to 2014.
Over the last two years the trust has raised more than £100,000 through the official charity role.
Frank Fletcher, the trust’s chief executive, said: "The money raised over the past two years has enabled us to take 200 young people on our four day sailing trips.
"We’ve also had 53 young people sailing with us in the Round the Island Race and we’re looking forward to another two years with some really exciting plans ahead."
Race organisers have also announced Jeff Blue, owner of Espresso Martini, a Farr 45, the winner of this year’s Nautica Outstanding Seamanship Award.
Speaking on behalf of the judges, Dave Atkinson, ISC race management, said: "While racing in the Needles channel in pretty rough conditions, he witnessed a crew member on another competitor’s yacht fall overboard.
"Jeff immediately dropped sails and picked up the sailor in a textbook rescue, taking him on board before transferring him, still under difficult circumstances, to the RNLI lifeboat that was by this time standing by."
Entries for next year’s race open on January 4, with early bird tickets open until midnight on February 2.
Next year’s race takes place on Saturday, June 1 with a first class start of 5am.