Clipper Ventures Plc has signed an agreement with the Olympic Sailing Committee of the Beijing 2008 Olympic Games for the Chinese city of Qingdao to host the Clipper 09-10 and Clipper 11-12 Round the World Yacht Races in its Olympic Sailing Centre.

The deal, which follows a successful eight-day stopover for the Clipper 07-08 fleet in the city that is to host the sailing events in the upcoming 2008 Beijing Olympic Games, also includes sponsorship of a Qingdao entry in both Clipper 09-10 and Clipper 11-12. The value of the deal has not been disclosed.

On Sunday the ten-strong international fleet competing in the Clipper 07-08 Round the World Yacht Race crossed the start line in Fuschan Bay, Qingdao, signalling the start of Race 7 of the series which will take them to Hawaii.