America's Cup - We want our money back
by Sail-World.com/uk on 14 Oct 2007
The Aguila Patrol flies over Port America’s Cup drawing the Spanish flag in the sky. ACM 2007/Carlos Luján
The continuing America's Cup stand-off takes another twist in the long and winding road to the 33rd challenge.
As the legal stand-off continues in the States, the local Valencian newsletter, Valencia Life Network, claims that the agreement signed with Americas Cup Management and the Valencian Government clearly states the number of syndicates that are expected top participate in the next set of races as nine.
If this number of competitors is not reached, Americas Cup Management will be forced to repay the Valencians up to 7% of the total contract for each syndicate under nine entries in the Challengers' Selection Series.
Currently there are five syndicates signed up: The Spanish Challenge, Team New Zealand, TeamOrigin, Shosholoza and Team Germany.
Waiting in the wings are the ubiquitous BMW Oracle Racing, Ayre - a second Spanish Syndicate - Areva Challenge, Victory Challenge, Mascalzone Latino and China Team. America's Cup Management has also received inquiries about participating in the next set of Races from such countries as Brazil and Malaysia.
The local newsletter also repeats the news revealed earlier in the general Spanish press, that the date of the next edition of the Cup could shift to being staged in 2010 or 2011 if no agreement was reached soon.
Read more at www.valencialife.net
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