Louis Vuitton ends America's Cup sponsorship
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Article Date: 2007-07-16
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Luxury good brand Louis Vuitton has announced it is to end its sponsorship of the America's Cup - bringing its association with the race to a close after 25 years.
The French firm cited a difference of opinion with the yacht race's organisers over the marketing of the event as the reason for it deciding to pull its backing.
A statement from the company said: "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.
"In these conditions, Louis Vuitton has decided not to lend its name to the next Challenger selection series," it added.
Since news of the schism broke on Friday, Swiss watch manufacturer Rolex has been mooted as a possible replacement.
It is thought that Louis Vuitton's contribution to financing the race far outweighed that of co-sponsors Alcatel-Lucent, Endesa and Santander.
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