Global multi-stage sailing event The Ocean Race has signed up Norwegian sportswear brand Helly Hansen as its Official Clothing supplier.
The deal covers the 2022-23 race cycle as the brand joins the organisation’s official partner tier. Helly Hansen clothing will be worn by race staff and officials across the ten stages of the event.
SportBusiness Sponsorship sources indicate the total value of the contract across the three-year race cycle is approximately €1.5m ($1.7m)-€2.5m.
The brand holds a long association with the race through previous contracts with its teams and conversations with The Ocean Race commercial team have been ongoing between the two organisations since the last edition in 2017-18.
Whilst The Ocean Race works with sports marketing agency CSM Sports & Entertainment on its commercial dealings and strategy, it is understood the existing relationship between the two parties meant negotiations could proceed directly and without significant involvement from the agency.
The Ocean Race puts a strong emphasis on its sustainability programme, ‘Racing With Purpose’ and Helly Hansen will play an active role in supporting this, with visibility around events such as The Ocean Race summits.
SportBusiness understands it is now likely that Helly Hansen will also sign supplier contracts with one or more of the competing teams in The Ocean Race.
Helly Hansen joins GAC Pindar in the ‘Official Partner’ tier of The Ocean Race’s sponsorship portfolio. It is understood that the race has agreed contracts with four other companies to join the tier, pending announcement.
The Official partner tier sits at the foundation of the organisation’s sponsorship pyramid and deals within it often include a significant element of value-in-kind.
Above it is the Premier Partner tier, which currently is comprised of founding partner of the sustainability programme 11th Hour Racing and former rights holder and title sponsor Volvo Cars.
A key focus of The Ocean Race’s commercial operation is the signing of a presenting partner to headline its portfolio, ahead of the 2022-23 edition of the race.
Recently, The Ocean Race took the decision to postpone its next edition until October 2022. It also set out the schedule for the next ten years of the event, comprising three editions.
The 2020 LEC Summer Season began on June 12 and will conclude on August 9.