regatta being hosted by the Royal Bermuda Yacht Club is completed. And that could jeopardise next year's event.

Scott MacLeod, who heads event organisers Sail Sports International, yesterday told of the development, which could sound the death knell of not only the local event, but also those in France (Brut Cup of France), England (Brut Royal Lymington Cup), San Francisco (Brut Cup of San Francisco) and New York (Brut Cup of New York).

And Mr. MacLeod explained that while Brut by Faberge had been pleased with the return on the investment, alterations in the structure of parent company Chesebrough-Pond's USA dictated that they not renew their contract. Brut replaced Omega as the title sponsor last year, as the watch company decided on a lesser role.

"Unfortunately we've known now for several months that Brut is not going to renew their sponsorship of the series or title sponsorship of individual events on the series for next year,'' said Mr. MacLeod, who thanked Brut for their support during the past two years.

"They came to us very early, which they didn't have to do, and let us know that due to some political changes and strategic changes in the company and the chairman, who was very much a sailor, leaving, they've decided that they cannot afford to continue the series.

"Still, they expressed the thought that they got real value for money and really liked the series. However sponsorships are strategic marketing and they have changed their focus away from sailing, which is viewed as a more upscale sport towards, basically, the Latin market and the south-east of the United States. Tractor pulls and car racing is what they're going to go and focus on.'' Meanwhile, Mr. MacLeod and his team have feelers out and have set the end of December as a target date for gaining a new sponsor or sponsors.

However, he noted particular desire to have the Department of Tourism come aboard and be able to use the regatta more as a promotional vehicle for Bermuda, while maintaining its status as the premier international match racing spectacle occurring on an annual basis.

And although the yearly budget for the Gold Cup stands at around $550,000, that amount would not need to be solely underwritten by the Department.

Instead they would be called on to supply a low six-figure amount to take care of the television coverage and promotions.

"We're going to approach the Department of Tourism and a few other local companies with a proposal, as we'd like to take the event more to the Bermuda perspective and maybe call it the Bermuda Gold Cup and really focus the promotion of the event on Bermuda,'' said Mr. MacLeod.

"It's always been an `Omega' or `Brut' in front of the name. Why not have Bermuda in front of the name? Why not focus the event on Bermuda and have most of the signage and exposure around the world on Bermuda? "If the Department would be willing to work with us and we could get three other sponsors in we could probably take this to a new level, almost to like a Masters or Wimbledon, where it doesn't have a commercial name attached to it.'' He pointed to the world-wide television and media coverage as elements that would certainly aid the Island in attracting new visitors, particularly those in the upscale financial bracket to which Bermuda has tailored itself.

"This event is world renowned and I'd hate to see it die because of a lack of sponsorship.''