Wednesday, February 10, 2010

November 28, 2009 21:33 PM

Monsoon Cup Offers RM1.57 Million Prize Money

KUALA TERENGGANU, Nov 28 (Bernama) -- The fifth edition of the Monsoon Cup, to be e staged at Pulau Duyong here from Dec 1-6, will offer the highest prize money in all of sailing events worldwide with a total of RM1.57 million (USD454,000).

The increase is a result of support from key sponsors for the Monsoon Cup which is the final leg of the World Match Racing Tour (WMRT).

The winner stand to pocket RM360,000 (USD104,000) while the last placed team (12th place) can still look forward to receiving RM50,000 (USD14,400).

Monsoon Cup Race Advisor, Datuk Peter Gilmour said the increase in prize money makes the event, the biggest in world, in terms of prize money.

"Importantly, the Monsoon Cup marks the final stage of the WMRT where the ISAF World Champion will be crowned," he said in a statement Saturday.

Gilmour said the increase in prize money was attributed to an increased sponsorship commitment from key sponsors and the Terengganu state government which provides such outstanding facilities and intra-government support that takes the event to a new level.

The WMRT is the leading professional sailing series, featuring nine World Championship events across the globe, and the World Tour is sanctioned by the International Sailing Federation (ISAF) with "Special Event" status alongside such tours like the America's Cup and Volvo Ocean Race.

Meanwhile, WMRT Tour Director Craig Mitchell said, "We are excited to see Malaysia once again offering the biggest prize purse on the WMRT. Match Cup Korea overtook Monsoon Cup in 2007 and now to add an additional 50 percent to the purse, Monsoon Cup has seen an incredible development.

"The racing teams normally utilise their prize money and individual team sponsor endorsement revenue that they earn, for covering their expenses like airfare, accommodation, damage, race deposit and coaching to support them during the event," he said.

-- BERNAMA

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