Fareham-based boat transportation company Premier Shipping and Packing is reported to be in sponsorship talks with Cowes Week. PSP is thought to be competing with three other companies to take on the £1.25m regatta sponsorship from Skandia, who pulled the plug on its long-standing affiliation with the event this March, making next year its final and 14th event.

The bid, described by Echo Business as audacious, goes against the grain for Cowes Week, which had been widely tipped to attract backing from luxury brands such as Hugo Boss or Henri Lloyd.

PSP’s move to take Cowes Week on from 2009 is underpinned by a multi-million-pound buyout of the firm by an American rival which aims to expand on PSP’s toehold in the lucrative boat transportation market, claims Boating Business.

Although he refused to name the US suitor, PSP owner Frank Dixie said they had identified Cowes Week as the perfect profile builder and have the money to pull off the deal. Full story in Boating Business, click here