Clipper Ventures plc, the AIM listed marine events company chaired by Sir Robin Knox-Johnston, has announced plans to sell its Corporate Sailing Division and its ten-strong racing fleet of Clipper Reflex 38 yachts.

The corporate events and training division, launched in 1999, organise corporate hospitality, training and regatta events in and around the UK aboard the charter fleet of Clipper Reflex 38s, designed and built in the Isle of Wight by Christian Stimson and Harley Race Boats.

The sale is part of a five-year development strategy which will enable Clipper Ventures to focus wholly on its two key round-the-world events, the Clipper Race and Around Alone. The strategy will see Clipper positioned as the UK’s leading marine events company and includes plans to build a fleet of twelve 68ft, 18-berth Ed Dubois designed boats, costing an estimated ‘6m.

William Ward, Chief Executive for Clipper Ventures, said:

“This transaction will allow us to concentrate our abilities and will strengthen the position of Clipper Ventures as the UK’s leading organiser of round the world yacht races.”

“Focussing on our core business of round the world yacht racing is a most important step in our development strategy and is in-keeping with our commitment towards making the Clipper 2005 race the most international yacht race yet.”