The Volvo Ocean Race has unveiled details of the new boat that will be used for the next two editions of the Race.
The plans will significantly reduce the cost of mounting a competitive campaign and are designed to bring the size of the fleet to 8-10 boats in future editions.
The 65-foot (19.8-metre) monohull racing yacht will be strictly one-design. It will be designed by the United States-based Farr Yacht Design and constructed by a consortium of leading boatyards in the United Kingdom, France, Italy and Switzerland.
Under an agreement between Volvo Ocean Race and the consortium, a minimum of eight boats will be built to contest the next two races.
Work will begin in July and the first of the racing yachts in the new class will be completed by June 2013, a year before the start of the next race.