President Agustin Zulueta told the meeting that it was quite impossible to financially maintain the current level of staff due to the atmosphere of uncertainty that surrounds the race due to the current court case.
Particularly hard-hit will be the communications department where three out of the four employees will leave their jobs. However, Mr Zulueta also told the meeting that everyone would be given their jobs back once a calendar had been established for the 33rd edition of the Americas Cup.
Meanwhile, it has been revealed that Ernesto Bertarelli has written to Judge Herman Cahn stating that the one-on-one best-of-three races for the Cup between Alinghi and BMW Oracle Racing cannot take place on October 1, 3 and 5 next year due to the Formula 1 races. The letter adds that Judge Cahn should set July 2009 as the date for these regattas.