secured for the world's premier annual match racing regatta.

Chief organiser Scott MacLeod of New York based Sail Sports International yesterday said that while most of the supporting sponsors had pledged to continue their backing of the event, no company had yet committed to the title role.

Meanwhile, hopes of the Department of Tourism coming aboard remained equally uncertain.

Brut by Faberge pulled the plug on their involvement with the prestigious match racing regatta following the completion of this year's event after two years occupying the title role, creating an uncertain future for the event.

"We're still working hard on obtaining a title sponsor, obviously there's some interest from people and it's more of getting out there,'' said MacLeod, adding that it would be a tragedy to have the Gold Cup scrapped.

"We don't have any leads at the moment on a title sponsor, but I think all of the supporting sponsors would like to come back, but for a title sponsor we don't have one as of yet.

"Selling sponsorship is one of the hardest things you can do, it's difficult.

The problem is that there is the right person for this event and there's the right company for this event, except they don't know about it yet, and I haven't found them.'' MacLeod noted the "right'' company to be one seeking to project a global image of themselves and he added there to be few more image enhancing on the scale of the Gold Cup.

The local event stands as the zenith among the circuit, offering more prize money -- $100,000 compared to $25,000 -- than any of the other four regattas -- Royal Lymington, San Francisco, New York and France -- contained in the five event series and annually attracts a slew of `high rollers' from overseas.

"Bermuda really supplies as an event more than any other on the tour a vehicle to entertain key customers, a place to bring your best customers and combine business with pleasure...there's no better location in the world for that.

"One of our clients brought in 20 of their top distributors and entertained them for three days and they had a $7,000 bill at one of the local restaurants.'' While MacLeod maintains desire to have the Department of Tourism in the lead role, Wayne Smith, manager of sports promotions, yesterday would give no firm commitment on behalf of the Department.

"We are looking at the event and how we can go ahead with it,'' said Smith.

"But, obviously, there is a budgeting process we have to go through and right now it's too early to tell.

"We also have had proposals regarding the hosting of the Tall Ships 2,000 Race, the Optimist Class Youth Regatta and Merrill Lynch Shoot-out, so we're tabling all of these and or desks are full at the moment and we may or may not be able to do all of them.

"There's not enough money in the kitty and we will need some help from the private sector if we are going to proceed and do so.'' The annual budget of the Gold Cup stands at around $500,000, although the title sponsor would not be required to underwrite the entire amount, instead they would likely be asked to supply a lower six-figure amount to take care of television coverage and promotions.

Sailing fans will get the chance to view this year's racing December 1, when it is aired on ESPN (2.30 p.m.).

STILL LOOKING -- Chief organiser Scott MacLeod who says it would be a tragedy if the Gold Cup was scrapped