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Illbruck Challenge yesterday became the first German boat to capture the Volvo Ocean Race, the grueling around-the-world sailing event contested every three years.
Perth and the Western Australia province, which says it has spent A$20m on the event, thinks it will double that in cash returns and establish itself as a world class sailing event organiser.
Photograph: Phil Walter/Getty Images 2.25pm BST Australia's Nathan Outteridge and Iain Jensen celebrate winning their gold medal in the Men's 49er class sailing event by capsizing their boat.
The way was made easier by the withdrawal of the Italian challenge, backed by rival luxury goods brand Prada, and the value to the pinnacle sailing event may not be so much in the amount of money which LV pays – believed to be far less than 2007 – but in the endorsement which its renewed participation brings to the America's Cup.
Great Britain's Yngling crew of Sarah Ayton, Sarah Webb and Pippa Wilson, dubbed the "three blondes in a boat", took gold in the 2008 Olympics sailing event at Qingdao.
This round-the-world sailing event is one of the toughest sporting challenges on the planet, attracting Olympic medallists and endurance sailors who push their multi-million pound boats to the absolute limit for months on end.
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Medal tally prediction … There are 10 sailing events in 2012, one fewer than in Beijing.
"The Caribbean has never been short of sailing events, so we had to carve out our own niche," she added.
Iain Woolward San Francisco, March 1, 2010 The writer competed in sailing events for Britain in the 1984 Olympics.
Both these sailing events roam the globe, attract teams from all over the world, and are run by relatively small companies.
Not so, as the world will learn on Sunday, when Weymouth, Dorset, hosts the first of two weeks of sailing events.
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