The German insurance group will support the American America's Cup team
The BMW Oracle Racing Team has announced another main sponsor for Wednesday.
another main sponsor on Wednesday. According to a report in today's edition of the news magazine "Focus", this is the Allianz insurance group.
The American sailing team was set up by software billionaire Larry Ellison. It already receives additional financial support from the automotive group BMW. The fact that Allianz is now coming on board as a further main sponsor is to be announced publicly on Wednesday.
The Munich-based Allianz Group's involvement in the Americas Cup comes as no surprise. Negotiations with the German team, then known as Fresh 17, were already underway at the beginning of this year, but fell through.
