french bread

french bread

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:

  1. Non-renewal of the Lyon and Marseille football club sponsorship at the end of 2012.
  2. 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.