The 25th anniversary edition race will start from the Puerto Deportivo el Abra Getxoon on November 5, 2006, and finish there the following spring.
Bilbao has committed an investment of B1.5million to host the race, which will be based in a new marina and waterfront development at the Port of Getxo, linked directly to the city by a new Norman Foster-designed metro system.
The Bilbao-based oceanic sailing company Ocean World, which played a major part in the bid to win the 5-Oceans Race, has been appointed by the city to work with the 5-Oceans Race team and manage the event locally.
Sir Robin Knox-Johnston, chairman of race management company Clipper
Ventures plc, said: “Bilbao has the world class facilities we require and is geographically the perfect location from which to start the race.”
The 5-Oceans Race has already announced investment of $500k from the Government of Western Australia for Fremantle to host the event’s first stopover.
The event will be raced in the Grand Prix IMOCA Open 60 and sister class, the Open 50. The choice of two classes will reduce the duration of the race and, combined with shortening the length of each stopover, will considerably lower the overall cost of entry for each skipper and their sponsors.
GlobalSportnet (GSN), the WPP-owned sports marketing company, has been appointed as commercial partner to market and promote the next two events in 2006 and 2010.
