Franck Cammas’ Groupama sailing team may not be in as bad a shape as initially reported (see French Toast, below). The official line from Groupama is that a few mistranslated words can have a big effect on the message, and here is further clarification:
Groupama has posted financial results with a deficit of 1.7 billion Euros. Within the scope of the cost reduction plans among all Groupama’s subsidiaries, the sports sponsorship department is also having to make some choices:
- Non-renewal of the Lyon and Marseille football club sponsorship at the end of 2012.
- For sailing, we await the regulations for the next edition of the Volvo Ocean Race 2014-2015 before making an announcement about participating for a second time, as is provided for in the contract [between Franck and Groupama]
In any case, Groupama confirms its willingness to continue its partnership with Franck Cammas, with whom it has been involved since 1998.