Cowes Week, one of the UK's longest running and most successful sporting events, has been given a boost with the announcement that Aberdeen Asset Management has agreed to support the sailing regatta for one more year in 2016.

Aberdeen's original five year title sponsorship commitment of Cowes Week came to end after the 2015 regatta.

Cowes Week, which is looking to secure a new title sponsor for 2017 and beyond, has evolved enormously since its beginning in 1826 and now has between 800 and 1,000 boats competing in up to forty different classes in early August each year. Around 8,000 competitors now participate, ranging from Olympic yachtsmen to weekend sailors, and the event attracts over 100,000 visitors to Cowes for what is one of the highlights of the British social and sporting calendar.

Along with Aberdeen Asset Management, local businesses, yacht clubs and supporting sponsors have worked together with Cowes Week Limited to guarantee the success of this year's regatta and to help the event attract a new sponsor from 2017 onwards. Racing will be as exciting and competitive as ever, and there will be a buzzing shoreside scene for both competitors and visitors to enjoy.

Martin Gilbert, Chief Executive of Aberdeen Asset Management, said: "We enjoyed our time as title sponsor of Cowes Week and always said that, if required, we would help support the event in this transitional year for the regatta and in their search for a new backer.

"Cowes Week is a flagship British event in a fantastic stretch of water with an unrivalled history behind it, so we're confident that a new sponsor will be found for 2017. We're proud of our association with the event, the enhancements we made to increase entry numbers and the benefits it brought to our brand. We are looking forward to working with Cowes Week Limited for a final year and here's to a great Aberdeen Asset Management Cowes Week 2016".

Peter Dickson, Chairman of Cowes Week Limited, added: "We are enormously grateful to Aberdeen Asset Management for returning to support Cowes Week 2016. Without their support over the past five years the regatta wouldn't be as accessible and as big as it currently is for both sailors and spectators.

"Along with Aberdeen, the local community are the real backbone of making Cowes Week happen and we thank everyone involved for their continued support. We are embracing change and are confident we will find a new sponsor for this fantastic event for 2017 onwards".

Commenting on the announcement, Kate Johnson, Commercial and Marketing Director at Cowes Week Limited, said: "We’re delighted to be working with the Aberdeen team for one further year and we're looking forward to putting on a spectacular regatta in 2016 for competitors and spectators alike".