Please select your home edition
Edition
Predictwind - Iridium

America's Cup- Team New Zealand gets more traction than the All Blacks

by Richard Gladwell/Sail-World.com/nz on 16 Jun 2014
Grant Dalton, Emirates Team New Zealand Managing Director talks to media at a press conference at the team's base in Auckland. Chris Cameron/ETNZ© http://www.chriscameron.co.nz
The pulling power of the Team New Zealand brand was demonstrated once again on Sunday, with a story on the America's Cup team taking the lead spot on the front page of a major Sunday newspaper.

What was even more powerful was that the story, about the team's much reported media conference on Friday afternoon, was up against a controversial win by the All Blacks over the touring English Rugby team.

The Team NZ story was one of the more accurate ones, but still could not resist inaccurately paraphrasing what was said:

Team New Zealand boss Grant Dalton has managed to raise $6million over the last week - but could yet need to find another $3m before the month is out to remain in the America's Cup.

Dalton has also expressed frustration over the handling of Friday's Auckland press conference, saying portrayals he issued government with a funding ultimatum were not what was intended, and it has only strained the political environment while the clock ticks.

The board of TNZ reconvenes tomorrow, including director and top entrepreneur Sir Stephen Tindall flying back into the country in the morning, to continue discussions on how the syndicate can finish tackling its potentially terminal financial situation - facing a deadline of just 14 days before their money runs out.

While timing of a $3m entry fee complicates the financials, as it stands TNZ effectively requires $5m to survive to December and an additional $6m to see them through to the end of February 2015.

Dalton has now revealed he has found commercial and private commitments, including from new investors, for $6m of that $11m total - an impressive achievement in the last seven days.

'In a week we have found $6m of funding ourselves, that is absolutely correct,' Dalton told the Sunday Star-Times last night.

Economic Development Minister Steven Joyce has also suggested that in the short-term, government is prepared to pump in around another $2m of public money, but TNZ must first meet the difference and have the cash ready. However, the relationship between TNZ and both the government and the public has been aggravated.

Joyce reacted to Dalton on Friday, quickly arranging his own press conference in response to reportage on TNZ after it was claimed Dalton had issued the government with an ultimatum amounting to: ‘give us more funding, or watch us die.'

Dalton says the TNZ press conference was not even called to discuss government funding, but instead to discuss the newly unveiled, and revised, Protocol for the 2017 America's Cup - and crucially, to convey that a Kiwi victory was more realistic than had first been portrayed.

For the rest of this story http://www.stuff.co.nz/sport/americas-cup/10159334/Team-New-Zealands-coffers-6m-and-counting!click_here

Mackay BoatsNorth Technology - Southern SparsBakewell-White Yacht Design

Related Articles

A Q&A with US Sailing’s Malcolm Page about the Sailing World Cup Miami
I spoke with Malcolm Page, US Sailing’s Olympic chief, about the team’s performance at the 2017 Sailing World Cup Miami I talked with Malcolm Page (AUS), a two-time Olympic gold medalist in the Men’s 470 class and the chief of Olympic sailing at US Sailing, to get his pulse on the team’s performance at the 2017 Sailing World Cup Miami and discuss some recent coaching changes within the Olympic-sailing program.
Posted on 20 Feb
America's Cup - Emirates Team NZ give first look at the pedaling AC50
Emirates Team New Zealand formally christened their new AC50 America's Cup Challenger on a rainy Auckland afternoon. Emirates Team New Zealand formally christened their new AC50 America's Cup Challenger on a rainy Auckland afternoon. The team has been sailing for the previous two days making news headlines after it was revealed in Sail-World.com that the AC50 would become only the second yacht in America's Cup history to use pedal power.
Posted on 16 Feb
America's Cup - Kiwis sign Olympic Cyclist for the Tour de Bermuda
Ttop cyclist Simon van Velthooven, a 2012 Olympic Bronze cycling medallist had been signed by the America's Cup team Emirates Team New Zealand put in a second foiling display on Auckland's Waitemata harbour ahead of the official launching of their AC50 tomorrow. With brighter skies the cycling team took their places on the pedalstals and used leg power to provide the hydraulic pressure necessary to run the AC50's control systems for the foils and wingsail.
Posted on 15 Feb
A Q&A with Shawn Macking about the StPYC’s Sailing Center and OD fleet
I talked with Shawn Macking, the StPYC’s waterfront director, to learn how the club is getting more people out sailing. I caught up with Shawn Macking, waterfront director of the St. Petersburg Yacht Club, via email to learn more about the club’s Sailing Center, its hefty investment in a new fleet of ten J/70s, and how the StPYC is using this infrastructure to expose more people to the sport we all love.
Posted on 13 Feb
A Q&A with Karen Angle about the 2017 Conch Republic Cup race to Cuba
I caught up with Karen Angle, executive director of the Conch Republic Cup, to learn more about this exciting event. If you’re like me and have arrived at saturation with winter’s cold rain and snow, imagine racing to Cuba as part of a 13-day cross-cultural event that’s designed to lower barriers of entry at a time when some Americans see a need for taller walls. I caught up with Karen Angle, executive director of the Conch Republic Cup, to learn more about this exciting event and the adventures it affords.
Posted on 23 Jan
A Q&A with Anna Tunnicliffe about her return to competitive sailing
I talked with Anna Tunnicliffe before the Sailing World Cup Miami to learn about her return to Olympic-class sailing. Anna Tunnicliffe won gold at the Beijing 2008 Olympics in the Laser Radial before shifting her sights to the Women’s Match Racing event for the London 2012 Olympics. Here, she came up shy of expectation and left sailing for the CrossFit Games, but now she is returning to her roots. I talked with Tunnicliffe before the Sailing World Cup Miami to learn about her return to Olympic-class sailing.
Posted on 23 Jan
A Q&A with Dick Neville, Quantum Key West Race Week’s RC chairman
I caught up with Dick Neville, Race Committee chair for the Quantum Key West Race Week, to learn more about the event. For the past 30 years, international sailors have gathered in Key West, Florida, each January for Key West Race Week, a regatta that has achieved legendary status due to its calendar dates, its location, and the impressive level of competition and racecourse management that this storied event offers. I caught up with Dick Neville, Race Committee chair for this year’s Quantum KWRW, to learn more.
Posted on 16 Jan
A Q&A with Daniel Smith, the Clipper Race’s new deputy race director
I talked with Daniel Smith, the Clipper Round The World Race’s new deputy race director, to learn more about his role. I was fortunate to sail with Daniel Smith [36, SCO], skipper of “Derry~Londonderry~Doire” for the 2015/2016 edition of the Clipper Round The World Race, when the fleet reached Seattle last spring. Now, Smith has been hired as the event’s deputy race director-a job that will test many of the skills that he polished as a skipper. I caught up with Smith via email to learn more about his new job.
Posted on 9 Jan
Rolex Sydney Hobart Yacht Race - Suck it up, sunshine!
The 72nd start of the iconic blue water classic had 300,000 spectators lining the foreshores of Sydney Harbour The 72nd start of the iconic blue water classic had 300,000 spectators lining the foreshores of Sydney Harbour, another two million watching on TV, and the constant buzz and whir of media helicopters overhead. 88 boats, from Australia, USA, UK, Germany, Sweden, Russia, Japan, Korea, China, oh and New Zealand, had lined up on three start lines.
Posted on 31 Dec 2016
Rolex Sydney Hobart Race - More merriment on the airwaves
Here are more examples of merriment on the airwaves between the boats and Hobart Race Control So on December 29, 2016, after the River Derwent had let just three boats home (Perpetual Loyal, Giacomo and Scallywag, all inside the old race record, she went to sleep for a lot of the day. This made it frustrating for the sailors, some of whom saw the lighter side. So after seeing some of those in Dark & Stormy, here are more examples of merriment on the airwaves between the boats and HRC
Posted on 29 Dec 2016