Oil and gas exploration and production company Providence Resources has become the new sponsor of Irish Sailing, the governing body of the sport in Ireland.
The sponsorship will run for four years, taking in the 2016 summer Olympic Games in Rio. Although Providence will have no sponsorship rights at the Games, as per International Olympic Committee regulations, Ireland's sailing team will be renamed Providence Team IRL during the build-up over the next three years.
Providence sponsored Irish Sailing for six months last year but has now committed to a longer deal.
Responding on behalf of the ISA, Alan Crosbie, Vice Chairman ISA Olympic Steering Group commented “We are delighted with the commitment and confidence shown by Providence Resources in our sailors," said Alan Crosbie, the vice chairman of the Irish Sailing Olympic steering group.
"We very much appreciated the support they provided prior to London 2012 and this new partnership will offer a more secure training platform four years out from the Games”.