Volvo Ocean Race: First announcement - but cancellation of the defending champion

The Italian Giovanni Soldini, 43, has been announced as the skipper of the newly formed Italian team Italia 70. The crew is to consist entirely of Italians. This is the first firm commitment for the 2011/12 race.

The Italians have big plans. With the announcement of the Volvo Ocean, they want to "show the world that Italy has very good ocean sailors", according to the statement. The project is to be the prelude to an Italian ocean sailing school, which is to be founded together with the Italian Sailing Federation. Participation is planned for the next two editions of the regatta in stages around the world.

Skipper Giovanni Soldini is a very experienced single-handed sailor. He has completed two single-handed circumnavigations and 30 Atlantic crossings.

It would not be the first participation of Italian teams, three boats took part in the 1973/74 race, the last all-Italian team was the "Brooksfield" in 1993/94.

Team Italia 70 has adopted the "Ericsson 3" from the last race as a training platform. A main sponsor has not been announced, but the aim of the project is to bring together a group of companies.

Ericsson no longer involved
Meanwhile, the Swedish team announced that it would no longer be taking part in the upcoming race. "The victory was the perfect end to the company's involvement in this race. After the overall victory and the great success in the business-to-business sector, Ericsson has decided not to participate again in 2011/12," it said.