Luxury watchmaker Panerai has confirmed rumors that it will cease its classic regatta sponsorship in 2019. Only the Panerai British Classic Week regatta in the Solent will receive backing this coming summer.
The news comes after Panerai’s former CEO, Angelo Bonati, a keen sailor, stood down in 2018.
“A passionate sailor, Bonati’s backing gave shape to classic regattas worldwide by creating an overarching series of events, encouraging owners to get involved and probably helping drive some of the bigger restorations,” noted Classic Boat editor Rob Peake.
The development will have financial implications for regatta organisers worldwide, notably in the Mediterranean, where Panerai has sponsored the leading circuit for 14 years, but also in the USA, where Panerai has supported a significant part of the classic sailing season.
“Most classic boat owners exist in a world far from the lavish Panerai drinks tent,” observed Peake. “But Bonati’s vision touched the greater classic scene and should be applauded.”
Source: www.classicboat.co.uk
Source: https://www.sailingscuttlebutt.com/2018/11/27/time-expired-panerai-sponsorship/
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