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OC Sport confirms the closure of Extreme Sailing Series™
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.
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.”
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Extreme Sailing Series™ 2019 update
In 2019 the Extreme Sailing Series brand is set to continue in a new direction, as organisers OC Sport confirm they will cease management of the circuit. Details will be revealed soon.
Wednesday 27th March 2019
The Extreme Sailing Series™ stormed onto the professional sailing scene in 2007, and since then has changed how fans, sponsors and media engage with sailing. On the water, on shore, online or on TV, its pioneering Stadium Racing format has set new benchmarks in the sailing industry paving the way for almost every professional sailing event that followed.
In 2019 the Extreme Sailing Series brand is set to continue in a new direction, as organisers OC Sport confirm they will cease management of the circuit. Details will be revealed soon.
In a statement, Herve Favre, OC Sport CEO 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.
However, looking ahead, and although we explored many different business models, due to various commercial hits beyond our control over recent years, the difficult decision has been made that it is no longer financially viable for OC Sport to run the Series.
Sailing continues to be a key sport for us but it was time for our strategy to change and we are now focused on the offshore side of the sport. We have just opened a new base in Lorient called ‘Le HUB by OC Sport’, 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 four-yearly Route du Rhum and The Transat, as well as the annual Solitaire Urgo Le Figaro, which this year will be coming to Kinsale for the 50th anniversary edition of the event.
The Extreme Sailing Series brand has become synonymous with world-class competition, hospitality and media output. For the brand to continue we have been working on a Management Buy Out deal for some time which we are now very close to finalising. This will take the Series in a new direction with a clear vision and we are excited to be able to reveal more details in the coming weeks about the future of the Extreme Sailing Series brand.”
