Please select your home edition
Edition
Southern Spars - North Technology

America's Cup- Team New Zealand has just 19 days left to live?

by Richard Gladwell, Sail-World.com/nz on 12 Jun 2014
Emirates Team NZ, Leg 1, Race 1 34th America’’s Cup September 7, 2013, with the replica of the boat that started it all, America, in the lower right corner background. © Richard Gladwell www.photosport.co.nz
Financially beleaguered America's Cup challenger, Emirates Team New Zealand has less than 19 days to find sufficient finance to stay alive.

The team was given a modest advance by the NZ Government's Trade and Enterprise division after not winning the 34th America's Cup. However the $5million advance runs out at the end of June. It has been used to pay team costs, and retain key team members while the twice winner of the America's Cup is restructured.

In an interview broadcast on Wednesday morning on Radio Sport, in Auckland, Team NZ CEO Grant Dalton said the team had 19 days of financial resources left before the team would be forced to disband, after being in existence for almost 30 years.

Dalton said the end, if it came would be very quick and that he expected key team members to be snapped up by other teams within hours of an announcement.

The full interview can be heard by clicking here

Team New Zealand and its predecessor New Zealand Challenge, have competed in eight America's Cup regatta, twice winning the Match, contesting the Match in another four regattas, and made the Final of the Louis Vuitton Cup in the other two. Outside the America's Cup, the team has also competed in the Volvo Ocean Race and Extreme Sailing Series.




Social media onslaught:

Oracle Team USA members continue to make comment about the New Zealand team in the social media with CEO Russell Coutts posting: Dalts,....there's no need to make any more excuses about how hard it is to win the AC. We all know you've been trying your best for the past 11years. Jimmy wants to see you back onboard. Please don't leave.

And in mid-April: Dalton predicting the next event, with smaller boats and less crew will cost the same and inferring he has no billionaire backers?? Really?? Poor Dalts! Unfortunately he's already announced the TNZ budget was 180m NZD (very similar to OTUSA) and given salaries are 50-60% of the overall cost it is pretty obvious why he would be trying to inflate the costs as much as possible!!

More comments from Russell Coutts can be seen here

Last Friday his skipper Jimmy Spithill also weighed in maybe reacting to the high profile that Team New Zealand and the America's Cup enjoys in the New Zealand media - where it regularly appears in prime time news:

While one team continues to be negative, its great to see ALL the other teams being proactive and working together to make the next America's Cup: The Best Yet.

And:

Dalts is an awesome Grinder definitely better than Winston Mcfarlane....... Dalts,....there's no need to make any more excuses about how hard it is to win the AC. We all know you've been trying your best for the past 11years. Jimmy wants to see you back onboard. Please don't leave.

More comments from Jimmy Spithill can be seen here

On both pages expand the 'Comments' to see more responses.

Bakewell-White Yacht DesignZhik ZKG 660x82Ancasta Ker 33 660x82

Related Articles

The Great Dane dies at 88 + Video
One of the heroes of sailing, Paul Elvstrøm (DEN) has died at the age of 88 years. One of the heroes of sailing, Paul Elvstrøm (DEN) has died at the age of 88 years. Known as the Great Dane, and winner of four Olympic Gold Medals, and many world championships in multiple classes from dinghies to keelboats, Elvstrøm put a footprint on the sport like no other.
Posted on 7 Dec
A Q&A with Olympic champ Malcolm Page about his new job at US Sailing
I recently talked with Malcolm Page, US Sailing’s newly hired Chief of Olympic Sailing, to learn more about his new job. Malcolm Page (AUS; 44) is a hyper-talented Men’s 470 sailor who won two Olympic gold medals (2008 and 2012) sailing with two different skippers, as well as seven World Championship titles, and who has long studied under the legendary Ukrainian coach Victor Kovalenko. I recently talked with Page, who was just hired as US Sailing’s new Chief of Olympic Sailing, to learn more about his new job.
Posted on 5 Dec
America's Cup - Kiwi lodges Appeal against Jury in San Francisco Cup
Former Oracle Team USA crew member, Matthew Mitchell (NZL) has lodged an Appeal against a Decision to dismiss his case Former Oracle Team USA crew member, Matthew Mitchell (NZL) has lodged an Appeal against a Decision to dismiss his case taken against the International Jury for the 34th America's Cup in San Francisco. On October 28, 2016, US District Judge Vince Chhabria dismissed Mitchell's claim against the five-person International Jury on the basis that it was lodged too late.
Posted on 2 Dec
A Q&A with Nick Bice about the recent changes for the 2017/2018 VOR
I caught up with Nick Bice, the VOR’s director of boats and maintenance, to learn more about the VOR’s new directions. I recently had the pleasure of hearing Nick Bice, the Volvo Ocean Race’s director of boats and maintenance, deliver a keynote speech to an audience of marine-industry professionals and official Volvo Ocean Race suppliers at the 2016 METS trade show in Amsterdam. I caught up with Bice after his presentation to learn more about the new directions that the race is taking for its thirteenth edition.
Posted on 28 Nov
A Q&A with Sharon Green about the prep work that ensures great images
I talked with ace photographer Sharon Green to learn more about the prep work that goes into each image that she snaps. I caught up with ace photographer Sharon Green at the 2016 Alcatel J/70 Worlds to learn more about the behind-the-scenes preparation work that goes into each image that she snaps. While some of Green’s tips are specific to professional shooters (e.g., helicopter time or juggling multiple camera bodies), plenty of amateur lensmen will be well served to consider Green’s racecourse-proven tips.
Posted on 23 Nov
Dockside with CQS - radical, revamped supermaxi up close
The revamped supermaxi CQS is currently in Auckland's Silo Marina, ahead of her first race on Friday The revamped supermaxi CQS is currently in Auckland's Silo Marina, ahead of her first race on Friday - the White Island Race which will double as Rolex Sydney Hobart Qualifier. Originally the 90ft Nicorette designed by South African Alex Simonis, the new project to upgrade to a 100ft supermaxi has been led by Brett Bakewell-White (NZ) and Bakewell-White Yacht Design.
Posted on 22 Nov
Gladwell's Line - President Croce caught at helm in Perfect Storm
No real surprise that incumbent President Carlo Croce (ITA) was unseated mid-way an eight-year term After a year or more punctuated with issues that should not have happened, it is no real surprise that incumbent President Carlo Croce (ITA) was unseated mid-way through what should have been an eight-year term. Also gone is one of his lieutenants, Chris Atkins (GBR) as Vice President, who remarkably polled 13th out of the 15 candidates.
Posted on 15 Nov
Gladwell's Line -The America's Cup settlement deal
The 'News' today that Emirates Team New Zealand has won their case before the Arbitration Panel is not news The 'News' today that Emirates Team New Zealand has won their case before the America's Cup Arbitration Panel is not new - Sail-World reported the same story in the first and second weeks of September. The Hearing on the amount of compensation to be paid is yet to be held. So far we have been unable to discover a date if indeed one has been set. Maybe next year?
Posted on 11 Oct
Debriefing the 2016 J/70 Worlds with Winning Skipper Joel Ronning
I talked with Joel Ronning after the 2016 Alcatel J/70 Worlds to learn about his team’s win at this high-level regatta. Since its inception in 2012, the J/70 has become the most popular One Design boat in decades, with 1,100+ boats sailing in myriad countries. Some 68 boats from 15 countries arrived on San Francisco Bay last week to determine bragging rights at the 2016 Alcatel J/70 Worlds. I caught up with Joel Ronning to learn more about the Catapult team’s road to becoming the 2016 J/70 World Champions.
Posted on 5 Oct
Rio 2016 - America's Cup champ says Paralympic racing is closest ever
Twice America’s Cup champion, Rick Dodson is extremely impressed with the standard of racing in the three man Sonar Twice America’s Cup champion, Rick Dodson is extremely impressed with the standard of racing in the three man Sonar keelboat class at the 2016 Paralympics in Rio de Janeiro. The regatta is being held in Guanabara Bay on three of the courses used for the Olympic Sailing Regatta in August.
Posted on 13 Sep