Antigua is having a rough time at the moment. As if the murder last month of yacht skipper Drew Gollan was not enough, the famous Antigua Sailing Week looks set to lose it’s title sponsor. Sir Allen Stanford, has been charged with an alleged $8 billion dollar fraud by America’s SEC.
America’s Securities and Exchange Commission says that the Texan billionaire financier had orchestrated an alleged “fraudulent, multi-billion dollar investment scheme”.
It is believed that Stanford’s support of Antigua Sailing Week was in the region of $US100,000 and US$150,000. Which only a couple of months to go, it will be difficult to find a sponsor who would take the risk of association with the Stanford scandal.
Sponsorship has allowed the regatta to become more professional and commercial. Like Cowes Week in the UK, the event can continue to be held without title sponsorship, but momentum that had been built by having a little extra money will be lost.