Councillors have welcomed news Sir Richard Branson has saved the world-famous Bognor Birdman rally.
Members of Arun District Council's ruling Cabinet have predicted a tourism boost with news of the sponsorship deal.
Sir Richard, chairman of Virgin Atlantic, stepped in to ensure this year's event goes ahead.
There were serious doubts about the future of the August rally, where people dress up in costumes and fling themselves from Bognor Pier, after organisers said they could not cope without help.
To mark the 100th anniversary of the Wright brothers' flight, Sir Richard has stumped up a £25,000 prize for a 100m human-powered flight.
Derek Whittaker, Cabinet member with responsibility for economic regeneration, said: "The news that a company such as Virgin Atlantic would wish to be associated with the event is encouraging.
"The Birdman rally is the major tourism event Bognor has and it is extremely important.
"Virgin's sponsorship will help lift the profile of the event even if it doesn't help lift the birdmen to greater heights."
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