Team Russia suspends operations in Singapore , but looks for a way to stay in the race

Singapore , 29 December 2008 – Last week, Team Russia principal Oleg Zherebtsov informed the Volvo Ocean Race organisers his team would not be on the starting line for the in-port race on 10 January, nor would they start leg four to Qingdao , China on 18 January.

This follows a team press release issued by the team saying it had suspended racing due to insufficient funds.

“Team Russia’s announcement stating that it would be suspending participation in the Volvo Ocean Race is very unfortunate,” said Knut Frostad , the CEO of the Volvo Ocean Race.

“We have known, since Cape Town, that Team Russia has been looking to open up its commercial programme to raise funds to supplement Kosatka’s owner Oleg Zherebtsov’s significant private investment in the team to this point.”

While the Team Russia is suspending its operations in Singapore , it hasn’t ruled out returning to the race at a later date should sponsorship be found. The team remains unique in the eight boat fleet in not having any naming or title sponsorship.  

Currently lying in seventh place on the overall leaderboard. Team Russia’s highlight achievement to date was a fourth place at the scoring waypoint on leg two, with Zherebtsov on board as an active crew member.  

Although the team later fell back during that leg after getting caught in a torturous doldrums, Oleg and his crew received a raucous welcome in Cochin, when their arrival coincided with the opening ceremony of the stopover port. It was one of the most memorable receptions of a boat at a stopover port in the recent history of the race.

Now, with the future of the team uncertain, the plan is to sail the boat back into the Atlantic Ocean via Cape Town. Rejoining the race at one of the Atlantic Ocean stopovers, in the spring, hasn’t been ruled out..

“We will continue to work with the management of Team Russia to help to explore every opportunity in their fund raising and hope that they will be able to rejoin the race from some port further down the race track, such as Rio or Boston,” added Frostad.  

The closing down of the team is heartbreaking for the sailors, who will continue to work to keep the project alive.

"I still can't believe it,” said watch captain Stig Westergaard. “But because I'm a notorious optimist, I'm positive that Kosatka, in some way or another, will cross the finish line in St. Petersburg. But right now, we are not continuing and it's a very empty feeling. It's sad because competitively, we are getting closer and closer. But we are all behind Oleg and we back him up completely."

Whilst the withdrawal of Team Russia is regrettable it has no effect on the arrangements made with the Russian city of St Petersburg for the final race finish at the end of June 2009.

The Whale and Dolphin Conservation Society, Team Russia’s chosen charity, will clearly be impacted by this latest development. The Volvo Ocean Race will endeavour to take on, as much as possible, the responsibilities of publicising the work of this charity.