Green Dragon For Sale.


The Irish Times reports that Green Dragon, Ireland’s entry in the Volvo Ocean Race, is up for sale at €2.5 million – half the price of its construction. The team is currently ranked 5th in the Race after reaching Boston.

Built in China to an American design and racing under a British skipper, the Green Dragon is a central part of next month’s State-backed, Galway VOR Stopover – a two-week festival of sailing costing €20 million that aims to bring in €43 million in tourism revenue.

According to the team’s chief executive, Jamie Boag, the decision to put Green Dragon up for sale before the race ends is:

“aimed at generating sales interest while the boat is still competing round the world”.

Potential buyers include syndicates preparing for the next VOR, who are looking for a turn-key package.

Yacht brokers Thoroughbred Yacht Sales, who are handling the sale in the US, said:

“It comes with everything needed to race around the world or do corporate sponsorship packages for the next edition of the Volvo Ocean Race.”

It secured last-minute sponsorship from Chinese interests and officially entered the race as “Green Dragon” last October.

Under the skipper, British Olympic medallist Ian Walker, it started out well, finishing third on its first leg last November, but since then fortunes have been mixed on the 33,000-mile trip, including breaking a boom and hitting an underwater object.

Read the Full Article at: http://www.irishtimes.com/newspaper/sport/2009/0424/1224245296048.html