Posted at 6:17 a.m., Friday, July 13, 2007
Sailing: Vuitton ends sponsorship of America's Cup
Associated Press
PARIS — French luxury goods giant Louis Vuitton is ending its sponsorship of the America's Cup because of concerns that the sailing event has become too commercial.Vuitton has been a main sponsor of the America's Cup — international sport's oldest competition — since 1983, when the challengers' series became known as the Louis Vuitton Cup.
"The new America's Cup rules define a more commercial approach, and the signed protocol has already been questioned by some of those concerned. Indeed, there is a risk of a significant reduction in the number of participating teams," the company said in a statement today.
"In these conditions, Louis Vuitton has decided not to lend its name to the next Challenger selection series."
The company held out the possibility, however, that it could return to the Cup "in another form."
