Cowes Week will lower its entry fee after securing a new title sponsor for the next three years.

Global investment management group, Aberdeen Asset Management, will lend its name to the regatta, which attracts 1,000 boats each year and will run from August 6 to 13 this year.

Chief executive Martin Gilbert said: ‘We are very proud to be supporting one of the world’s premier sailing regattas.

‘Aberdeen Asset Management Cowes Week looks set to be a tremendous success and we are very much looking forward to enhancing the experience of both the crews and spectators who will descend upon the Isle of Wight later this year.’

In addition to the price reduction, further initiatives are being discussed.

John Grandy, chairman of Cowes Week Limited, said: ‘We are delighted to have formed this new relationship with Aberdeen Asset Management and are looking forward to working together to develop Cowes Week further for the benefit of everyone involved in this great regatta.’

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