Sir Robin Knox-Johnston’s Clipper Ventures has secured multi-million pound backing from Danish window manufacturer, Velux, for its Five Oceans solo round-the-world race.

Formerly the Around Alone, the event will start from Bilbao, Spain on 22 October 2006. The sponsorship announcement means the competitors will immediately benefit with a 50 per cent refund of their entry fees on completion of the race.

Other benefits for the skippers include: Free accommodation for themselves and up to four shore crew in Bilbao and Fremantle, free berthing, on-site marina facilities at each stopover.