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French bank CIC signs title deal with The Transat solo sailing race

The Transat, the world’s oldest professional solo sailing race, has a new title sponsor in French banking brand CIC.

SportBusiness understands from industry sources that the sponsorship is valued in the low, seven-figure millions of euros.

Under the deal, the quadrennial race – owned and organised by OC Sport Pen Duick, the French subsidiary of international event organiser OC Sport becomes ‘The Transat CIC’.

Hervé Favre, chief executive of OC Sport, said: “The Transat offers a very attractive commercial prospect, and this new partnership with CIC is an important milestone for the race.

“Without the sponsors involved, offshore races could not offer the followers such an engaging platform, and we look forward to working together to take The Transat CIC to the next level in terms of delivery.”

CIC is a one of the largest banks in France with a network of nearly 2,000 branches. It also has a strong international network with a presence in 34 countries.

The Transat has previously had just three title sponsors over its history. Watchmaker Omega was the title sponsors of the 2004 Transat.  The 2008 edition was title sponsored by the French holding company Artemis. The 2012 edition was postponed but the race returned in 2016 with a new title sponsor in bakerly, the US subsidiary of the French industrial food group Norac.

Next year’s Transat – the 60th anniversary edition of the race – will sail from Brest in France to Charleston in the US on May 10 2020.

It is open to skippers in four classes – Ultimes, IMOCA 60s, Multi50s and Class40s – and will include many of the entrants in the 2020 Vendée Globe solo round the world race.

An analysis of fashion brand Hugo Boss’s title sponsorship of Alex Thomson’s Vendée Globe entry for 2020 features this month in SportBusiness Sponsorship.