Yachting: $13m for yachtie

Graham Dalton believes the sponsorship deal for his just-launched Open 60-class yacht, Hexagon, is possibly the biggest in New Zealand.

He and sponsors HSBC would not say at the yacht's unveiling in Auckland yesterday how much is involved, but the Herald understands it is more than $13 million.

Dalton, brother of round-the-world sailor Grant, plans to sail Hexagon in the Round Alone race starting in Newport, Rhode Island, in September.

Built by Southern Ocean Marine in Tauranga, Hexagon is named after HSBC's corporate symbol.

Money raised in the 28,000-nautical-mile event will go towards child education through the bank's education challenge activities in the 78 countries where it operates.