Report: Team New Zealand and Real Club Nautico Palma to enter 2011-12 Volvo Ocean Race
According to the Spanish sailing website Gaceta Nautica, based in Palma de Mallorca, it appears that Team New Zealand and the Real Club Nautico Palma will enter the 2011-12 edition of the Volvo Ocean Race, joining their forces with the financial backing of the Spanish footwear company Camper, also based in Palma.
Always according to the same article, the final agreement was signed in Spain on Wednesday and the joint Kiwi-Spanish project will be presented in a press conference next Monday in Palma.
Finally, the author of the article states that Camper's financial investment will be "very high" and according to his own estimate it is approximately 20 million euros.
We will try to get official confirmation, or denial, as soon as possible. If it is indeed true, it makes sense because having Team NZ race under a Spanish flag was the only way for Camper to take advantage of the tax deductions the Volvo Ocean Race sponsorship benefits from in Spain.