THIS year's Skandia Life Cowes Week was one of the most successful ever, it has been revealed.

Skandia Life, sponsors for the last eight years, has already pledged £1.5m for the world's largest sailing regatta until 2005.

Now part of the cash injection will be used to fund and improve the town of Cowes itself.

This winter will see the rebuilding of the Cowes Combined Club (CCC) Regatta Centre in Bath Road adjacent to Cowes Parade.

Director of CCC Stuart Quarrie, said: "By next year's event, we should be back in wonderful new, purpose-designed premises with a total of eight flats above the ground floor Regatta Centre for purchase."

Organisers Cowes Combined Clubs believe this year's regatta ranks as one of the best ever.

Mr Quarrie was pleased with the slight increase in the number of entries as the Regatta hosted nearly 900 boats, although the lack of wind was a problem.

He said: "As usual a large number of competitors entered very late, with more than 200 entering in the last couple of weeks.

"Generally the wind was light and very hard to predict.

"This has prompted a major relook at the whole starting procedure to see if there are any ways that we can avoid the problem in the future.

"One innovation for 2002 was the use of text messaging as a secondary means of transmitting courses. This should be back in 2003.

"We hope that Skandia Life Cowes Week 2002 was enjoyable for you and we look forward to seeing hundreds of old friends in 2003 when the dates for the week are from Saturday, August 2 to Saturday, August 9."