sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : America's Cup: Emirates Team NZ confident to mount Cup Challenge
America's Cup: Emirates Team NZ confident to mount Cup Challenge

'Emirates Team New Zealand is given the green light for a Challenge for the 35th America's Cup.'    Chris Cameron/ETNZ©    Click Here to view large photo

Emirates Team New Zealand chairman Dr Keith Turner has announced that the team has now reached the point where it has the confidence to mount a challenge for the 35th America’s Cup.

He says the team has secured sufficient private and sponsorship funding to proceed to the next stage without needing Government funding during this period.

'Now, with the assistance of long-time supporters Sir Stephen Tindall, Matteo de Nora and other private Donors and Sponsors, we are delighted to be able to say that we are funded through to late this year,' he said in a media statement released by the team on Thursday afternoon.

Emirates Team NZ’s Managing Director, Grant Dalton -  © Richard Gladwell   Click Here to view large photo
Emirates Team NZ CEO Grant Dalton said: 'The team has been working towards this moment almost since the day of the last race in San Francisco.

'The funding support for the team that has coalesced over the past week means we can continue the design and engineering development, and keep racing, until main sponsorship funds begin to flow.

'To avoid falling behind the opposition, our design and engineering team has been working on the software tools they will need for the challenge.'

There was no mention of additional NZ Government funding for the team, which created a media fed outrage just two weeks ago, when a media conference held to discuss the team's reaction to the Protocol, turned feral as some members of the media choose to focus on Government backing for the team.

Today's announcement came by way of media release avoiding a repeat of the hi-jacked Media Conference of June 13.

It would seem that the team has enacted a Plan B, and has raised the necessary bridging finance to get it through to when the sponsorship and other funding sources are turned on. The team has previously said that it is in the best position it has enjoyed in regard to sponsor commitment at this stage of a campaign. It is believed to have strong support from at least four key sponsors and was also holding discussions with a Bank to come aboard as a sponsor in the way that Bank of New Zealand did in the 1986/87 challenge in Fremantle.

Currently the team has a sailing program underway in two events. Dean Barker, Glenn Ashby and Chris Nicholson are at the European A Class championships in France. Ashby leads that regatta, with Barker in 18th place and Nicholson in 26th place overall in the 75 strong fleet. Ashby won his seventh world championship in the class off Takapuna, earlier this year.

In St Petersburg, Russia, Olympic 49er sailors Peter Burling and Blair Tuke with Jeremy Lomas, Ray Davies and Edwin DeLaat are in Russia for the Extreme Sailing Series which starts on Thursday. Several other America's Cup teams are competing.

'The Protocol and the design rule has been published so we know what we are working with and we are confident we can mount a challenge that has the potential to win,' Dalton said.

'Amendments to the Protocol have removed some of the more contentious issues. If this Protocol follows the pattern of previous Cup cycles, more amendments will follow. The so called Two-boat rule for the Defender is not the problem suggested by recent media reports.'

'We now await the announcement of venue for the challengers’ preliminary series and then the venue for the challengers’ semi-finals, finals and the America’s Cup Match, so that we can put the finishing touches to the team’s business plan and present it to our backers for approval.'

Entries for the 35th America’s Cup close on August 8. As yet no teams have entered and none are expected to do so until closer to the August date pending resolution of some outstanding issues. This will be the Team New Zealand's 9th America's Cup since the entity was formed 30 years ago, as New Zealand Challenge and is the longest running team in the competition. In that time it has won the America's Cup twice, and has sailed in the America's Cup Match on the last five occasions that the event has been open to multiple Challengers being selected through the Louis Vuitton Cup regatta.

Earlier today in an interview published in Yachting World, Artemis Racing (SWE) said that it had issues with the Protocol and the event and was still making a decision whether to Challenge.

Entries are expected from at least six marque teams for the event, for which a venue and dates are yet to be announced.


by Richard Gladwell/Sail-World.com/nz


  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=123702

4:35 AM Wed 25 Jun 2014GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.

Click for further information on
2016-2017 America's Cup

Related News Stories:

25 Jun 2014  America's Cup: Artemis Racing expresses concern over Protocol aspects
23 Jun 2014  America's Cup: Butterworth - 'I just thought that I could help.'
22 Jun 2014  America's Cup: Coutts takes media to task over Protocol inaccuracies
21 Jun 2014  America's Cup: Director and backer says that Team NZ have the funds
19 Jun 2014  America's Cup: Barker and Burling to compete in different multihulls
19 Jun 2014  America's Cup: Coutts repeats offer of second AC62 for Challengers
18 Jun 2014  America's Cup: Emirates confirm discussions over Team NZ naming rights
17 Jun 2014  America's Cup: Can the Venue be other than the waters of the Defender?
17 Jun 2014  Gladwell's Line: Media crunch in the America's Cup
16 Jun 2014  America's Cup: Team New Zealand gets more traction than the All Blacks
MORE STORIES ...






News - USA and the World











































International Moth Worlds: Rashley ahead as Aussies close in by Mark Jardine / YachtsandYachting.com,




















International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature
29er North American Championship - Day 1 in Kingston
Red Bull 49erFX: First look at the Olympic sailing venue at Rio
Fuerteventura Kiteboarding Grand Slam - Classic conditions on day 3
NYYC Race Week Part II images by Rolex/Daniel Forster
Drowning or electric shock? What you need to know to help save a life
BIC Techno 293 Worlds 2014 - Day 1
Six Metre European Championship - Blazing sunshine on opening day
National Sailing Hall of Fame to present Lifetime Achievement Award
International Moth Worlds: Greenhalgh and Rashley tied at the top
PWA Pozo World Cup - Fantastic finale determines winners
Six Metre Class British Open Championship - Llanoria and Valhalla win
Anna Tunnicliffe set to compete at the CrossFit Games
America's Cup: Oracle Team USA holds foiling camp at Wangi SC
Volvo Ocean Race: Abu Dhabi OR completes double Atlantic crossing
Volvo Ocean Race: Team SCA has a 'pull through day' off the Canaries
No tiller sailing - how to steer using just the sails + Video
International Moth Worlds: Three bullets in a row for Greenhalgh
U.S. Junior Women’s Singlehanded Championship - Sophia Reineke wins
BIC Techno 293 Worlds 2014 - Day 0 Opening
Fuerteventura World Cup - Slalom action highlights day 2   
2014 Governor's Cup - Sam Gilmour of RFBYC victorious again   
Farr 40 West Coast Champ - Skipper Alberto Rossi leads Enfant Terrible   
Flying Dutchman World Championships - Magyars are the Masters   
Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek   
2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton   
NYYC Race Week - Saving the best for last   
VX One North American Championship - Chris Alexander commands   
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3   
International Moth Worlds: Thunderstorms delay racing on Day 1   
Fuerteventura World Cup - Impressive tricks on day 1   
2014 Governor's Cup - Two former winners in the finals   
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature   
Wilson and Roble remain number one match racers in U.S.   
2014 ISAF Youth Match Racing World Championship - Set to start   
PWA Pozo World Cup - Moreno twins dominate home spot   
ISAF Youth Worlds - Record breaking regatta in Tavira + Video   
Melges 32 European Championship - Robertissima remains out front   
Farr 40 West Coast Championship - Italians take one-point lead   
Melges 32 European Championship - Day 3 images by Carlo Borlenghi   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL WAS US
LocalAds   DE  ES  FR  IT