J.P. Morgan Fuels Innovation At Round the Island Race
Last week, J.P. Morgan Asset Management announced it would continue title sponsorship of Britain's largest yacht race, the Round the Island Race, through 2012. Born in 1931, Round the Island takes place each June and is the fourth largest sporting event in the U.K. after the London Marathon and the Great North and South Runs. The growth has garnered interest from other sponsors as well, including Nautica and Volvo.
Today, the race features more than 16,000 sailors of all ages, some of which will presumably benefit from some new sponsor initiatives:
Lest you think it's all about converting x number of participants into x $ in private wealth under management, four official race charities also benefit from sponsorship: the Ellen MacArthur Trust, Macmillan Cancer Support, Breast Cancer Care and Prostate UK.
"The charity aspect of this Race is really important with more than £350,000 raised over the last three years," asper Berens, Head of UK Sales, J.P. Morgan Asset Management said. "We hope the total can reach £500,000 in 2010."
In their own words: