SOUTHAMPTON may have lost out on the glory of hosting either the beginning or climax of the world's toughest ocean challenge - but could be even better off financially as a result.

The city is expected to rake in even more than the estimated £7m it normally makes after it was included to hold a spectacular special race start and finish in the radically revamped Volvo Ocean Race.

The eyes and wallets of the sailing world will be focused on Southampton for the stopover, which will last about two weeks in the spring of 2006.

Traditionally the city has held the start, as it did in September 2001, or the thrilling final stage.

But council chiefs in Southampton believe the new revised role will make even more money during the course of the fun-filled fortnight.

They estimate the city's previous involvements with the prestigious event earned about £7m.

The race has been revamped after criticism from some competitors following the previous challenge, which finished last year.

As revealed in later editions of yesterday's Daily Echo, it will include all-new hi-tech 70ft yachts, with rule changes designed to favour sailing skills and not teams with the biggest budgets.

There will also be changes to crew make-ups to encourage more women and new scoring systems, with scoring gates introduced on the long ocean legs.

Race veteran and former winner Grant Dalton said: "The announcement of the new format of the Volvo Ocean Race is significant. It will create a lot of interest in yachting circles around the world."

A race spokesperson said: "Another new feature for the Volvo Ocean Race will be the inclusion of six in-port races, with points counting towards the overall result.

"These inshore regattas will provide an exciting atmosphere for the public, who will have the opportunity to see, first hand, these spectacular race boats in action with their world-class crews and feel a real involvement with the event."

City council leader Councillor June Bridle said: "Staging a prestigious event like the Volvo Ocean Race places Southampton in the company of some of the most important sailing centres around the world. This race has a real heritage in the city and we are delighted to be hosting a stopover for the first time."