The French insurance company Groupama has announced that it is ending its support of renowned yachtsman Franck Cammas. Accordingly, in order to compete in the next America's Cup «» team «Iron Franck» will have to look for a new sponsor.
For 20 years the Groupama logo has graced the sails of the yachtsman, who each year has won more victories and set new records on different ocean distances up to the circumnavigation of the globe.
Their first collaboration took place in November 1997, when Camma was still a 25-year-old promising yachtsman with no particular sailing record. But the management of the insurance company had made the right choice and very soon the sportsman made the brand famous not only in France but all over the world with his numerous achievements.
Groupama has already announced the possibility of ending support for its sailing team in the heat of the Volvo Ocean Race 2011/12. But the syndicate, headed by Frank Camma, emerged victorious and that has apparently cooled the fervor of the disgruntled company.
Explaining its final decision, the French insurer said: «For Groupama, the sports and geographical structure that was recently announced and confirmed by the Cup organizers, now seems too far from the natural mutual European and French interests. It is in this context that the company will soon announce a new vector for the development of its sponsorship policy, which will remain ambitious, but will be presented in other sports and geographical regions».
Apparently the termination of the contract did not upset the yachtsman too much. The French car repair and spare parts retailer Norauto has already offered to sponsor the team in «the 36th America's Cup», but Kamma has intriguingly announced that «will use other interesting and innovative ways of financing».
