J.P. Morgan Asset Management extends sponsorship of Round the Island Race

By Gary Anderson

January 8 - Financial investments firm J.P. Morgan Asset Management has extended its title sponsorship of the annual Isle of Wight Round the Island Race for a further two years, it was announced today.

The deal extends J.P. Morgan's ten-year sponsorship of the 50 nautical mile race and runs through until 2016.

The firm has become heavily involved in sailing over the past ten years, including a title sponsorship deal with four-time Olympic champion and 2013 America's Cup winner Sir Ben Ainslie, which is now into its eighth year.

Sir Ben's preparations for this year's America's Cup have also been boosted by J.P. Morgan's sponsorship deal with Ben Ainslie Racing (BAR) which will see the team competing in the eight-race 2014 Extreme Sailing Series which begins in Singapore in February.

"We're delighted to announce our title sponsorship of the J.P. Morgan Asset Management Round the Island Race will continue for a further two years, to include 2015 and 2016," said head of UK Funds Business at J.P. Morgan Asset Management Jasper Berens.

"We've been involved in sailing for the last decade as title sponsor of the race and we are also into our eighth year as title sponsor of Sir Ben Ainslie, which includes sponsoring his entry into the Extreme Sailing Series 2014 with his team J.P. Morgan BAR, so today's announcements further confirms our commitment to the sport.

"J.P. Morgan's involvement in sailing continues to be thoroughly rewarding, not just in terms of our brand but also in helping us connect with our existing and potential clients.

"To be involved in an event like the Round the Island Race, organised by the Island Sailing Club, with the best sailors in the world competing alongside amateurs is an honour and we hope our support can make the event a great success."

Sir Ben Ainslie broke the Round the Island Race multihull record during last year's event ©Getty Images

The Round the Island Race is organised by the Island Sailing Club (ISC) on the Isle of Wight and has been running since the inaugural race in 1931 with boats competing across a range of classes.

Last year, just days after being a pallbearer at Beijing 2008 gold medal winner Andrew Simpson's funeral, Sir Ben was part of a crew that set a new multihull race record of 2 hours 52min 15sec, taking more than 16 minutes off the previous record set by Frenchman Francis Joyon and his crew in 2001.

Simpson, who died as a result of an accident whilst training for the America's Cup in San Francisco Bay last May, had also competed in the Round the Island Race in recent years, with his last appearance coming in 2011.

Around 1,500 boats and 16,000 sailors took part in the event last year.

"This race, the largest of its kind in the world, continues to evolve under the ISC's stewardship," said John Dudley, Commodore of the ISC.

"However, with J.P. Morgan Asset Management, we have been fortunate to work hand in hand with a title sponsor and our race partners who fully support and help us launch new initiatives.

"Over the past nine years of J.P. Morgan's sponsorship, the Round the Island Race has developed beyond everyone's expectations with new technological initiatives being introduced, alongside fundamental improvements such as the provision of free water taxis to ferry competitors from berth to boat and back.

"We have also been fortunate to enjoy hosting Sir Ben Ainslie, also sponsored by J.P. Morgan, and the race media coverage has broadened as a result.

"We enjoy working with J.P. Morgan's team for the benefit of everyone associated with the race."

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