Pindar sails too close to the wind

YACHT RACING enthusiasts will be familiar with Team Pindar which in recent years has challenged in the Extreme Sailing Series and World Match Racing Tour. They may even be familiar with the man behind the name, Andrew Pindar, who has ploughed large amounts of money into the team. What they probably won’t realise however is that Pindar is one of Britain’s largest contract print companies and is currently experiencing a very tough business environment – it posted a £1.9m loss in 2010. The Yorkshire-based family firm has put itself up for sale and appointed KPMG to find a buyer to rescue it from collapse. On the face of it, industry naysayers may conclude that sponsorship of yacht racing has been a poor investment. The reality however is that the connection between Pindar’s core print business and aficionados of the sport may not be sufficiently strong for the business to capitalise on the exposure. The days of the chairman’s whim may be over and Pindar has tried valiantly to convert its branding into business. Sponsorship does work but there is no substitute for the due diligence that will establish a fit between brand and property.