Prize money raised

$100,000 now up for grabs for the winners of the centenary King Edward VII (Bermuda) Gold Cup

With additional support from new sponsors Correia Construction, Ace Limited and a group of Royal Bermuda Yacht Club members, Les Crane, Event Organiser for the King Edward VII Gold Cup, announced today that the event prize purse has increased to $100,000.

The centennial anniversary Gold Cup, scheduled to be held over 9-14 October has 20 of the 24 skipper slots allocated. Early entries include last year’s finalists, England’s Ian Williams of Team Pindar and France’s Mathieu Richard of the Saba Sailing Team. Williams defeated Richard, 3-1, last year in the first Gold Cup final for both skippers.

Williams won $25,000 for his efforts last year, but this year the winner will receive $35,000.

“This is a notable year for the Gold Cup, being the 100th anniversary of the trophy,” said Crane. “The Gold Cup is readily recognised around the world as one of the premiere match race regattas. It’s the only ISAF-graded WC event in North America. We’re pleased that so many prominent companies are taking note and wanting to be part of the celebration. Past Commodore Jordy Walker, a driving force behind the modern Gold Cup, played a key role in organizing RBYC member support.”

Locally based global insurance companies Renaissance Re and Max Capital Group Ltd. are the Presenting Sponsors of the Gold Cup. The Bermuda Department of Tourism is the Host Sponsor. Primary sponsors include Ace Ltd., Bermuda Premium Spirits, Bermuda Telephone Co., Correia Construction and Oleander Cycles. Supporting sponsors are Izod, Wedgwood, Bermuda IOD Class Association, and T2P Productions.

Besides Williams and Richard, ranked No. 1 and 2 in the ISAF World rankings, other entrants include a trio of America’s Cup sailors; Gavin Brady, an afterguard member of BMW Oracle Racing, Italy’s Paolo Cian, helmsman for South Africa’s Shosholoza Challenge, and Magnus Holmberg, skipper of Sweden’s Victory Challenge.

Local favorite Blythe Walker, who placed third in last year’s championship, has accepted an invitation in the field of 24, which will also include the Bermuda and U.S. national match race champions.

The Gold Cup is slated as Stage 14 of 16 of the World Match Racing Tour. The tour champion at the end of the year will be named the ISAF Match Racing World Champion.

The Gold Cup is the oldest match-racing trophy in the world for competition involving one-design yachts. It was first presented at the Tri-Centenary Regatta at Jamestown, VA., in 1907 by King Edward VII in commemoration of the 300th anniversary of the first permanent settlement in America.

In the post-war years, the club placed the Cup in competition in 1956 for match racing in yachts of the International One-Design Class (IOD). Bert Darrell had the honor of being the first to defend the Cup in this class and won it a total of six times. New Zealander Russell Coutts became the event’s all-time winner in 2004 when he won his seventh championship.