OC Sport confirms the closure of the Extreme Sailing Series
by Extreme Sailing Series 13 Jun 2019 08:19 UTC
The fleet of race yachts crossing the start line on Day 1 of racing close to Los Cabos - Extreme Sailing Series 2017, Act 8 - 30th November- 3rd December 2017. Los Cabos, Mexico, Cabo San Lucas Resort © Lloyd Images
OC Sport, the international event organiser and rights holder which owns the Extreme Sailing Series, has confirmed all operations for the global circuit have ceased after they were unable to reach a successful Management-Buy-Out.
The Extreme Sailing Series was established in 2007 and from the off it changed the way fans, media and sponsors engage with sailing. Its pioneering Stadium Racing format paved the way for almost every professional sailing event that followed, combining world-class competition on short courses close to shore, with unique hospitality and innovative media output.
In a statement, Hervé Favre, CEO at OC Sport commented: "The Extreme Sailing Series has been a key part of our business for 12 years. It has been a genuine pacesetter and has led the way in inshore sailing. When we launched the Series, we set out to change the way sailing is seen, fuelled by world-class competition. We wanted to make a difference to the sport and we believe we have done that.
"Regrettably, it is no longer financially viable for OC Sport to continue running the Series and so we have spent many months exploring the option of a Management-Buy-Out. Unfortunately, we couldn't reach an agreement which was favourable for both parties involved.. The result of this is the final closure of our Extreme Sailing Series business.
"Sailing continues to be a key sport for OC Sport but it was time for our strategy to change and we are now focused on the offshore side of the sport. Earlier this year we opened a new base in Lorient called 'Le HUB', which offers a full-service solution for international offshore sailing campaigns. And of course, we will continue to manage our established offshore events including the annual La Solitaire URGO Le Figaro, La Transat AG2R La Mondiale and the four-yearly Route du Rhum-Destination Guadeloupe and The Transat.
"We remain incredibly proud of all that we achieved, thank all the staff who have been dedicated to the Series for so many years and are regretful that the Series has ended in such a way."