A Hong Kong-based private company now has the exclusive rights to World Match Racing Tour (WMRT), which organises a string of premier sailing races including Terengganu’s Monsoon Cup.
Regal Faith Ltd acquired from F10 Holdings Ltd, their interest in ProMatch Tour Ltd, which holds the exclusive rights of WMRT.
Businessman Datuk Patrick Lim, who help found Terengganu’s Monsoon Cup, is reportedly the owner of Regal Faith.There are eight other races in WMRT’s calendar, including the Marseille International Match Race, Korea Match Cup and Danish Open, which would be broadcast to over 100 countries around the world.
In a statement on Wednesday, WMRT said the investment by Regal Faith and its consortium of investors based in Hong Kong, Malaysia and Australia sees the company take an equity stake in the Tour.
The new investor is expected to further develop world class venues around the world, whilst adding stability and structure to the existing professional sailing circuit.
“The WRMT had grown significantly over the last three years since being granted the sole and exclusive rights and official sanction to run and manage the professional world tour or series in match racing by the International Sailing Federation (ISAF),” said the statement.
Match racing veteran Peter Gilmour had been appointed Acting President and will become the Tour Advisor once a full time replacement had been found.
“It has taken over three years to finalise this transaction and we will see considerable new plans develop over the coming months. The sport has seen aggressive development in events, America’s Cup and independent team participation, spectators, media interest and sponsors,” said Gilmour.
WMRT director Craig Mitchell said the investment would enable the tour to be further expanded and developed.
“Regal Faith Ltd’s investment in the WMRT demonstrates the value that has been built up in the Tour over the last three years,” he said.
No comments:
Post a Comment