Ed Gorman comments...

on the spectacular launch of GBR Challenge on Friday

Above: Peter Harrison addresses the assembled press and VIPs at the launch

There is a lot of razzmatazz in British sailing right now because a lot of good things are going on. On this score Peter Harrison's naming ceremony for the new America's Cup Class in Cowes on Friday, Wight Lightning, went well beyond the recent pace-setter, Ellen MacArthur's announcement of her plans for the next five years at the London Boat Show.

Amid all the glitz, the Royal presence, the champagne bottle that didn't break, and the swipes at Lloyds List, there was one announcement which sent a shiver down my spine. Harrison gave us a thankfully abbreviated summary of his achievements and of the progress of the GBR Challenge team and remarked that, so far, he has managed to attract only £2 million in sponsorship.

This is understood to be mainly backing in kind - not cash - from P&O Nedlloyd and is covering all the team's extensive shipping costs to and from New Zealand. The current "approved rumour" from sources close to Harrison is that his original £17.5 million budget has now escalated to £22 million. Elsewhere on this website, further rumours are given airtime, suggesting Harrison's real projected expenditure might end up being close to £40 million.

Whatever it is, he has so far failed to attract any significant commercial backing and in his speech to the assembled multitude on Friday, he underlined the consequences. "To ensure continuity into 2006, we require 50-50 sponsorship," he said without any further explanation.

To date Harrison has proved to be malleable and flexible with his money and with his hard and fast decisions. But maybe on this one those who have been trying to rein him in all along will get their way and there may not be another challenge in 2006. One can imagine a relatively disappointing performance in Auckland with the team convincingly knocked out of the quarter-finals. In those circumstances Harrison will be left to reflect on his massive personal expenditure with no significant commercial backing and who could blame him if he decided to draw the whole thing down.

That is obviously an appalling prospect. To see all the effort, training, ingenuity and experience already achieved this time, wasted on other non-British syndicates in 2006, would be a tragedy for the sport in this country and for Harrison himself. His problem, of course, is that the economic climate continues to be uncertain in the wake of September 11. Signing up for a programme involved with 'yachting' and a complex competition on the other side of the world involving some of the richest men on the planet, just doesn't feel quite right in the boardrooms of companies he would want to be associated with. All we can do is hope and pray he and his marketing team led by Leslie Ryan are doing and saying the right things and that they make some progress between now and October.

Funding apart, it's the same old story with the GBR Challenge. Progress has been made on all fronts and, so far, there do not appear to be any serious errors with long term consequences in the way the campaign has been developed. One nagging worry, however, is the contrast between the impressive way the afterguards have handled the ACC boats during recent warm-up regattas on the Hauraki Gulf when their starting tactics have been excellent, and the very poor showing of GBR crews on the international match-racing circuit.

Below: Peter Harrison with Princess Anne and Dave Barnes