sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : America's Cup: Second challenger withdraws, leaves substantial debt
America's Cup: Second challenger withdraws, leaves substantial debt

'Green Comm Racing (left) straddles Artemis Racing before the start of the final race of the America’s Cup World series, Plymouth causing damage to the Swedish entry assessed at E100,000'    Gilles Martin-Raget/www.americascup.com©    Click Here to view large photo

A second challenger for the 34th America's Cup, Green Comm, based in Spain, has announced it has withdrawn from the 34th America's Cup.

A spokesman for the team had previously stated that the team was 200% sure of having the necessary funding to continue through the America's Cup World Series and go onto the Regatta itself.

A statement posted on the leading European website vsail.info says:

In December of 2011 Green Comm reached collaboration agreements with the Regional Government of Lombardy (Italy) and the Circolo de Vela Gargnano that seemed to have secured the necessary funding to complete the participation of the syndicate, not only in the 2012 events but also in the Louis Vuitton Cup in 2013 with the AC72?s.

The Real Club Náutico de Valencia has been watching the development of this agreement, vital for the continuation of the campaign in 2012. Unfortunately, these expectations have not been fulfilled and given the enormous difficulty in securing other sponsorship that would allow to keep a challenge with the required rigor and dignity and given the current economic climate, on April the fifth the Real Club Náutico de Valencia informed Golden Gate Yacht Club that it relinquished the challenge presented in February of 2011, resignation that was accepted on April 10th, 2012.


It would seem that the team had not paid an assessment of damages made by the International Jury to America's Cup Regatta Management and payable by the Spanish challenger of 80,000Euros following damage to Aleph and Artemis Racing during an ACWS event.

As repairer of both boats, ACRM assumed recovery of the debt.

The Americas Cup Jury Notice sets out the chain of events leading right to the end of March, at which point the Int Jury received a note from Manuel Pons, the President of Real Club Nautico de Valencia, who said they were unaware of the award of damages against their team.

It transpired that while the team had registered an email address when lodging its Challenge but claims that it had not accessed the email address: The RCNV now understands that the communications from the Jury have been properly addressed to the stipulated addresses for service of the Jury. We do not dispute that fact, but at the same time we do desire to bring to the attention of the Jury, that the RCNV had no news, notifications or knowledge, of this procedure and that the e-mail address submitted in our notice of Challenge, for the RCNV, was never used. said Pons in a further note to the International Jury.

The matter had been placed under confidentiality by the Int Jury for some time.

A final deadline for payment of the funds was set for 9 April 2012. On 10 April 2012, the Int Jury says it received advice from the America's Cup Trustee (Golden Gate YC) that Green Comm that it had withdrawn from the 34th America's Cup and America's Cup World Series. Previously the team was threatened with Disqualification from the events by the International Jury on 10 April, if it did not settle with ACRM or it had not already withdrawn.

The Club elected to jump rather than being pushed and withdrew from the 34th America's Cup.

The Int Jury responded by awarding a further amount of almost 9,000Euros against the team meaning that ACRM is owed close to 90,000Euros. Under the America's Cup Protocol while the teams are seen by fans as the Entry it in fact the Clubs who have the formal undertaking and lodge the Challenge for the America's Cup. The implication being that if a team withdraws or has debt with the Event organisers, then it is the Club that is liable, in the first instance, who must then have recourse to its team.

The withdrawal of Green Comm reduces the America's Cup World Series to eight teams, including the Oracle Racing bankrolled Ben Ainslie Racing which will not join the circuit until September 2012.

There are just four teams, being three Challengers and one Defender entered for the 34th America's Cup for which entries close in just over five weeks time on 1 June 2012. If the entry numbers remain at that level it will be the lowest entry Louis Vuitton Cup since 1983 when seven Challengers competed in the Challenger Selection Series.


by Richard Gladwell

  

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

http://www.sail-world.com/index.cfm?nid=96218

2:19 AM Wed 18 Apr 2012GMT


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

Click for further information on
2013 America's Cup

Related News Stories:

16 Apr 2012  America's Cup World Series: Full Video Replay of Finals Day in Naples
16 Apr 2012  Fisher's View: Day 5 Luna Rossa thrill their America's Cup home fans
16 Apr 2012  AC World Series Naples - Luna Rossa images by Carlo Borlenghi
16 Apr 2012  America's Cup World Series Naples - Thrilling win for Luna Rossa
16 Apr 2012  AC World Series Naples - Emirates Team NZ 'sailed well, bar two races'
16 Apr 2012  AC World Series Naples - Match Racing victory to Artemis
15 Apr 2012  America’s Cup World Series Naples - Australian sailors tested
15 Apr 2012  America's Cup World Series Naples Day 4 - Racing suspended
14 Apr 2012  Fisher's View: America's Cup - Racing cancelled on Day 4 + Video
14 Apr 2012  AC World Series Naples - Racing abandoned for first time
MORE STORIES ...






News - USA and the World

Express 27 National Championship overall + Video by Erik Simonson, Pressure-Drop.US,




















America's Cup: Louis Vuitton Cup's Yves Carcelle dies at 66 *Feature by Richard Gladwell/Sail-World.com/nz,












Audi Melges 20 World Championship - ‘Samba Pa Ti’ crowned champion by International Audi Melges 20 Class Association,










Audi Melges 20 World Championship - Final race to decide champion by International Audi Melges 20 Class Association,










Fort Lauderdale International Boat Show - 13 things to See and do by Fort Lauderdale International Boat Show,




Volvo Ocean Race: Update from Team Vestas Wind in images by Richard Gladwell/Sail-World.com/nz,








Audi Melges 20 World Championship - Classic Garda conditions on day 2 by International Audi Melges 20 Class Association,


PWA Alacati World Cup - Intense competition on day 3
America's Cup: 'The Doc' appointed as Commercial Commissioner
Wake Park Triple Crown - Registration open for final stop
Audi Melges 20 World Championship - Day 2 images by Stefano Gattini
Volvo Ocean Race - Two more join Dongfeng Race Team
OHPRI Teen Summer Camps make a splash
East to West: A profile of Volvo Ocean Race crew Team Dongfeng
Extreme Sailing Series - First-ever Turkish team to race in Istanbul
Audi Melges 20 World Championship - Race 4 images by Max Ranchi
New Around Britain and Ireland Monohull 40ft and less world record
Detroit Cup - Fifth place finish a difficult result for Neptune Racing
Audi Melges 20 World Championship - Alessandro Rombelli's 'STIG' leads
Volvo Ocean Race: Call of Duty comes first for Team Alvimedica
Audi Melges 20 World Championship - Day 1 images by Stefano Gattini
Helping boaters understand weather basics
PWA Alacati World Cup - Exciting finish on day 2
Match 40s find the surface again + Video
Audi Melges 20 World Championship - Day 1 images by Max Ranchi
Clagett Regatta names first Executive Director
Transatlantic Race - Fleet expanded for 2015 edition
IFDS World Championship overall   
Anna Tunnicliffe: Alinghi finishes second - Extreme Sailing Series   
2014 18' Skiff International Regatta - Day 2   
2014 Audi Melges 20 World Championship - It's go time in Garda   
2nd Annual Keith Dinsmoor Regatta September 13-14   
Aldo Alessio Regatta - Three days of tight racing   
PWA Alacati World Cup - First blood to Van Der Steen and Offringa   
Oakcliff Sailing hosts the Nacra 17, 49er and 49erFX Nationals + Video   
International 18ft Skiff Regatta underway on San Francisco Bay   
Maxi Yacht Rolex Cup 2014 - Quality fleet for Maxi Classic   
Sailing Champions League - which is Europe's best sailing club?   
Weta fun at the Wine & Roses Regatta   
Extreme Sailing Series: The Wave, Muscat claims victory on Cardiff Bay   
International 14 World Championships 2015: Not just for boys   
Rio de Janeiro achieves 50% treatment of sewage outflow *Feature   
2014 AWT Quatro Desert Showdown - Event memorable videos   
2014 18' Skiff Int Regatta: Day 1 at San Francisco - Reversal on beach   
Emirates Team NZ: Last race boost cannot save team from table bottom   
PWA Alacati World Cup - Furious slalom is upon us   
J/111 World Championships - The Winner is Shmokin Joe!   


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 NEW US
LocalAds   DE  ES  FR  IT