The company objects to Volvo's aggressive involvement in the event. Bertil Hult of Dagens Industri, the owner of EF Education who has invested SEK 150 million ($ 20m) in two boats said: "Whitbread is dead when Volvo comes in with its own company name in the title of the race. I think its wrong. Who would compete in America's Cup if it was name Kodak Cup."
With such a strong heritage of sponsorship of global events such as Equestrian World Cup, Volvo European Golf Tour Bertil Hult thinks the event title may get potential participants to hesitate, "I am convinced many of this years syndicates behind the various boat projects will not participate again in 2002," he said.
Winners of this year Whitbread Around the World yacht race EF Language have announced they will not be competing in the 2002 race to be sponsored by Volvo and named The Volvo Ocean Race.
