"Skandia has been a fantastic partner to Cowes Week for 14 years and has worked hard with us to develop the regatta, and Cowes, in so many positive ways. A heart-felt thank you goes out to Skandia, and we will enjoy celebrating all that has been achieved during our 14-year relationship with them at this year's regatta.

"Looking ahead to the future of Cowes Week and life after Skandia, our ideal scenario had been to announce a new partner in advance of this year's event. Although discussions are progressing well, we are not in a position to make an announcement before or during the regatta. However, we do have every confidence that Cowes Week will have a new partner in place in good time for the 2009 regatta.

"Cowes Week is a superb event that has a huge amount to offer, and of course it's important to remember that the regatta has run very successfully for over 180 years, going from strength to strength; we are in no doubt that this will continue into the future."

Stuart Quarrie
CEO Cowes Week Limited