Bright future for Ocean race

Alicante - The 12th edition of the Volvo Ocean Race will start in Alicante, Spain in 2014 after joint owners Volvo Car Corporation and Volvo Group confirmed their commitment to the event, organisers said on Saturday.

"At a time when many sports events are struggling to survive in one of the toughest economic climates in living memory, the future of the Volvo Ocean Race is looking very healthy," race chief executive Knut Frostad said at a news conference before the start of the 11th edition.

"A large part of the secret of our success is that the event is owned by Volvo Cars and Volvo Group and forms a central part in both companies' marketing strategy," he added.

Six teams are contesting the 2011-12 race, which begins with an in-port stage off Spain's Mediterranean coast and finishes 39 000 nautical miles later in Galway, Ireland in July.

Volvo Car Corporation belongs to China's Zhejiang Geely Holding Group.