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Volvo Gives Up on Namesake Ocean Race

For decades, one of the best-known yachting challenges in the world has been the Volvo Ocean Race. The iconic competition is now in its final months, and Volvo announced on Thursday it will no longer borrow its name for the event.
Famous ocean race loses Volvo name 11 photos
Photo: Volvo Ocean Race
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After the current edition ends, Volvo Cars and Volvo Group would be handing over control of the race to Spanish based Atlant Ocean Racing. The team at Atlant has been working with Volvo on organizing it for on seven different occasions over the decades.

The financial details of the deal were not disclosed. Although retiring as an organizer, the carmaker will continue to sponsor the competition.

“After 20 years we feel that it is time to hand over responsibility for this prestigious race to a new and capable owner with the focus, experience and know-how needed to develop it even further,” said in a statement Björn Annwall, Volvo Cars vice-president.

“Volvo Cars will continue to support the next edition of the race as a sponsor with special focus on sustainability.”

Since the race is one that takes place once every three years, the change of ownership would not happen until the 2021-2022 season.

The Volvo Ocean Race was born from the Whitbread Round the World Race. It got its name in 1973 when the automaker bought it from the British Whitbread brewing company.

The current season is the 13th, kicked off in Alicante, Spain, and is scheduled to end in The Hague, the Netherlands. This season is the longest of all, matched only by the one in 2001-2002, and is divided into 10 legs.

The number of yacht entries has decreased heavily since the race’s inception. The peak number of participants was reached in 1981-1982 when 29 teams competed. This season, only seven yachts entered.

The winners of the race get no money for their efforts but do receive a symbolic trophy made from aluminum and silver. There is only one copy, which changes hands whenever a new boat and skipper are declared winners.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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