Independent audit for IMOCA

All important AGM to be held tomorrow in Barcelona

Members of the Open 60 class association, IMOCA, are in Barcelona for their AGM which will take place at tomorrow. The meeting has been preceded today by several workshops focusing on safety, class rules, and general organisation of the Class.

Over the course of the past two months, the IMOCA Executive Committee and many sub-committees have been meeting on a regular basis and have reached an advanced stage of work to present to its members. IMOCA President Dominique Wavre set the scene: “We have already consulted many relevant parties regarding changes that we know need to happen. We know we need to change to adapt to the new economic world and the Class needs to continue to evolve in a professional way. The Vendée Globe taught us many lessons. We have been looking very closely at the Class rules and the race programme.”

The IMOCA executive committee has therefore agreed to employ Portas Consulting, an independent sports business consultancy, to carry out an audit of the Class and to feed back strategic organisation and commercial advice. IMOCA members and associated parties such as race organisers, sponsors, and boat designers will be asked to discuss the current issues, the direction and future of the class. A similar audit is being carried out on the Volvo Ocean Race by Boston Consulting Group.

Wavre went on to describe his hopes for the forthcoming AGM: “Tomorrow’s meeting will focus on how to protect the existing fleet and to supervise any future builds; on how to limit the fleet’s costs and to discuss what rules need to be modified. We will concentrate on the technical elements, the Class rules and of course safety remains our main priority. Tomorrow will not bring us a definitive set of Class rules or changes, but it will be a good start of an ongoing process.”