Challenge Business has announced that the postponement of the fifth edition of the Global Challenge Round the World Yacht Race. The event, scheduled for 2008/09, has been postponed after organisers failed to secure a title sponsor.

Subtitled “the world’s toughest yacht race,” the Global Challenge is unique in that it is the only race that sails around the world “the wrong way” – against the prevailing winds and currents. The first iteration of the Race, in 1992, marked one of the first opportunities for amateur sailors to race across oceans.

Now, however, the current lack of a title sponsor means that the company is unable to commit to the refit of the yachts for the next race, despite 80% of the crew already having signed up for it.