Panerai ends sponsorship, except Cowes

The classic circuit evokes timeless scenes

starting in January.

The move came after its charasmatic CEO Angelo Bonati retired in the spring. Panerai’s new boss Jean-Marc Pontroué said the high-end watchmaking brand is sailing on to new horizons, but was unspecific about what or where they might be. Would it, for instance be sponsoring the America’s Cup again? “The America’s Cup was such a natural fit for Panerai in the past. For the future, we cannot tell you in advance, but we can assure you that we have a lot of interesting projects coming up,” Snr Pontroué told CS.

One of Bonati’s babies at Panerai was the restoration of the 1936 Fife ketch Eilean which he discovered slowly rotting in the mangroves in Antigua, shipped to to Italy, had her restored and used her as an ambassador for the brand from 2012.  “Eilean is our “Moving Address”,  she will play a key role in 2019, making more appearances,” Snr Pontroué said. “The craftsmanship and care that went into her refurbishment is a symbol of our passion for preserving heritage, this is Panerai’s essence.  She is on her way to Lanzarote right now to sail across the Atlantic in the Transat Classique Race. She is our pride and joy and will attend to different appointments in the Caribbean and Mexico next year before returning to Europe to represent our Brand in different cities.”

Eilean will be in Antigua next spring, though whether she attends Antigua Classics will depend on her schedule,” Snr Pontroué added.

Panerai’s sponsorship over more than a decade has helped elevate the classic sailing scene, and the familiar tent, with its superb coffee and comfy sofas and armchairs had become a fixture enjoyed by many. Panerai used to fly and bus in journalists from non-sailing titles to report on the events which helped spread the culture of these events to new audiences. The restoration of Eilean was similarly widely reported in mainstream press.

Antibes Organiser Yann Joannon

Panerai had withdrawn from sponsoring the Antigua classics in 2017 but its announcement has caught some organisers by surprise. Yann Joannon for Les Voiles D’Antibes tells CS: “As you can imagine, we were a bit disappointed with Panerai’s withdrawal on such short notice, especially as they had confirmed with us that the 2019 circuit will take place.

Diana L Brown, organiser of the Opera House Cup at Nantucket in America, told CS: “We were grateful to have Panerai as the title sponsor of the OHC for 13 years, and are sorry to see them exit the classic regatta arena. They helped us do a number of things, creating the Panerai North American Classic Yacht Challenge, which included both the OHC, and the Nantucket Regatta, two days prior to the OHC. Panerai was the title sponsor of the Nantucket Regatta for the past 3 years.

“They helped to create and administered the CRF rating system, which was later upgraded to CRF MkII. One of the most helpful aspects of the new rating system was consistency across regattas (the OHC had previously had its own rating system), and the online access for the Organizing Authority to look up rating certificates (previously competitors had to mail or scan them to us).

“Panerai also brought a high level of elegance and style to the event, with their hospitality lounge, gift bags for the participants, and great trophies. They also promoted the OHC on Panerai’s website, in its regatta publications and as part of their annual holiday gifts.

“We are seeking another sponsor for the OHC which will celebrate its 47^th year in 2019.”