Louis Vuitton Cup 2002

by Event Media on 21 May 2001 Ten syndicates representing yacht clubs from six countries have had their challenges accepted by the current America's Cup holders, the Royal New Zealand Yacht Squadron. These ten challengers are entries for the Louis Vuitton Cup that will take place in Auckland starting in October 2002 and last four months. The winner of the Louis Vuitton Cup will be the sole challenger to race against Team New Zealand for the America's Cup.

At the invitation of Louis Vuitton and CORM (Challenger of Record Management), all 10 challenger syndicates met in Paris last week for the first meeting of CORM, the organisation responsible for the running of the Louis Vuitton Cup, challenger elimination series. At this meeting CORM elected its eight strong board of directors.

In March 2000 the Royal New Zealand Yacht Squadron appointed the Italian Yacht Club Punta Ala the task of selecting the best challenger for the America's Cup (Challenger of record). Accordingly, three of the board members represent this club that was first to launch a challenge, and the Prada America's Cup Challenge. They are Marco Piccinini (ITA) - Chairman, Pierpaolo Gardella (ITA) - General Secretary and Francesco Longanesi (ITA).

The five other board members are Julia Harrison-Lee (GBR), representing the RORC and the GBR Challenge, Doug Smith (USA), representing the Golden Gate Yacht Club and the Oracle Racing syndicate, David Elwell (USA), representing the New York Yacht Club and Team Dennis Conner, Glenn Bourke (GER), representing the Dusseldorf Yacht Club and the Illbruck Challenge and Brad Butterworth (SUI), representing the Société Nautique de Geneve and the Alinghi Swiss Challenge for the America's Cup.

Amongst the issues debated by the challengers at the recent meeting was the subject of the mandatory performance bonds to be paid by the syndicates between now and the next event.

The idea behind the performance bond is to try to estimate a firm number of challengers participating in the Louis Vuitton Cup. It is a key element with regard to course management and media information.

CORM and the challengers will be holding regular meetings between now and the start of the next America's Cup season. The next meeting will be held in June where important marketing issues relating to the Cup will be dealt with.

CORM (Marco Piccinini) and Louis Vuitton officially signed the partnership agreement for the next Louis Vuitton Cup in Paris last week in front of all of the Challengers' representatives present.