Valencia Life- Offers to America's Cuppers to stay

by Valencia Life Network News on 12 Dec 2007
The publishers of Valencia Life Network News outline an offer made by the Spanish and Valencian governments, to those involved in the last America's Cup to remain in Valencia.

The Americas Cup 2007 Consortium, the public company that administers the last Americas Cup met in Valencia port yesterday, amidst concern over the future of the 33rd edition of the event. Following the meeting this afternoon, which was attended by Elena Salgado, the Public Administrations Minister, Rita Barbera, the Mayoress of Valencia and Gerardo Camps the Financial Conseller and deputy President of the Valencian Government, it became clear that the Madrid Government would agree to spend 16 million Euros on personnel costs and maintenance fees that was still outstanding from the 32nd edition of the Cup.

Miss Salgado also added that a budget of six million Euros would be made available in order that the Consortium remain active in 2008. However, by far the most interesting aspect of the meeting was the declaration by the Minister that important financial benefits would be granted to those syndicates that maintained a permanent base in Valencia, where or not future editions of the event take place in Valencia. Miss Salgado added that she had had a meeting in this regard with Larry Ellison, the Chairman of BMW Oracle Racing. In commenting on the current state of affairs with the decision of Justice Herman Cahn, both Miss Salgado and Mr Camps stated that they would by far prefer a normal series of Americas Cup races than a one-one-one series of races in Catamarans.

As was expected, yesterday morning a meeting took place between Alinghi and BMW Oracle Racing in New York,whilst both teams waited for the final order on the court case heard by Justice Herman Cahn. Both sides stated that they had not talked about the Protocol for the 33rd edition of the Americas Cup, but did mention the proposal to alter the Deed of Gift. As the meeting ended, Alinghi qualified the meeting as cordial, whilst BMW refused to make any statement.

Meanwhile, rumour continue to abound to the effect that the Spanish Sailing Club is on the point of filing an appeal against the recent court decision by Judge Cahn. It is only after the final order has been issued that an appeal can be launched, with the current idea apparently being the postponement of a possibility of a challenge under the Deed of Gift between Alinghi and BMW Oracle Racing. Despite this, there is also some considerable political pressure from Spain against the appeal being launched, since most politicians believe that there is nothing to be gained from trying to overturn the decision by Justice Cahn.

And now, it seems that there is a third Spanish challenger on the horizon. The Decision syndicate is the result of a collaboration between the Royal Yacht Clubs of Madrid and Barcelona, but no real announcement has yet been made over an official entry


This story very kindly provided by The Valencia Life Network News whuch is a bulletin of information about the Valencian Community that is published every morning except Mondays. Any comments or suggestions are most welcome, as well as are new subscribers: publisher@valencialife.net