Please select your home edition
Edition
Barton Marine Pipe Glands

The mystery backer of Team NZ

by Greg Ford, Sunday Star Times on 27 Feb 2007
Emirates Team New Zealand NZL84 prepare to round the first top mark in their first final match of the Louis Vuitton Act 12 against Alinghi SUI75. Chris Cameron/ETNZ http://www.chriscameron.co.nz

From Sunday Star Times www.sstlive.co.nz

His name is Matteo de Nora, he's an international man of mystery and if Team New Zealand brings home the America's Cup this year, we'll owe him a $20 million debt of gratitude. The Sunday Star-Times can reveal that de Nora is one of a small network of wealthy international and New Zealand businessmen underwriting the team's cup challenge.

He appears to live a playboy lifestyle in Monte Carlo, Monaco, and is from one of Italy's richest families.

De Nora is the first of the network to come forward after Team New Zealand boss Grant Dalton decided to speak about the 'team's untold story' last week on their departure for Spain because New Zealand needed to know what role the benefactors had played.

'Without them we would not have a challenge - it's as simple as that.

'When I came on board after we lost the cup in 2003, Team New Zealand had no money, nothing, even before the government came to the party. I didn't think we would get through the first month, so I had to find someone to pay the electricity bill at the base, for example.

'I picked up the phone and rang Matteo (a supporter of Team NZ's 2003 campaign) and this bloke is the reason why we're now going to Valencia.'

De Nora was modest when asked about his business interests, saying he owned an engineering firm that sold batteries. But research has revealed he hails from one of the richest families in Italy.

The de Nora clan owns a business empire that spans the globe. Gruppo de Nora designs and markets sophisticated fuel cells, which it manufactures in about 500 family-owned factories from China and Japan to Russia and Brazil. Its financial holding company Norfin turned over 200 million euros ($373m) last year. It has assets worth about 150m euros ($280m).

Matteo's role in the company appears to be behind the scenes, but his name appears alongside Michele De Nora, the family company's boss and public face, in at least one business deal in Brazil.

The rest of the family do not have a public profile, but in keeping with the family's entrepreneurial streak, Matteo has patented a new method to detect blood-coagulation status.

About five years ago de Nora bought a large super yacht, built by west Auckland boat builders Alloy in 1993. The 34m sloop called Imagine was fitted out by North Sails and Southern Spars. The companies declined to comment on their business relationship with de Nora - and for good reason. He is thought to have commissioned a second super yacht and has requested privacy.

However, Dalton said he often entertains Team New Zealand members on Imagine, which is registered as 'Imagine B' with the Royal New Zealand Yacht Squadron, is skippered by Kiwi Richard Low and is often moored in Auckland's Viaduct Basin.

De Nora said he owned 'a property' in Northland: a search of land register files shows it is a 500ha block near Russell worth $13.5m. He also appears as a director of a New Zealand-registered company which has overseas shareholders.

After coming to New Zealand in the mid-1990s, he fell in love with the country.

'Matteo's story is not unlike at least two others in the network I can think of,' said Dalton. 'They get a super yacht built here, they say 'Let's buy some property,' then they start travelling the country. They love it and want to give something back.'

De Nora was involved in the last campaign as a supplier of batteries, expertise and a small amount of finance. 'But the moment I saw the mast snap in 2003, I knew I was going to get involved more,' he said.

'It broke my heart. I was in San Diego (when Team NZ won the cup back in 1995) and was involved on a minor level in previous campaigns. But that's when the emotional attachment with the team started.

'I knew the team was better than that, so when Grant called...'

Many of the network have offered their expertise and business contacts as well as money. De Nora said the benefits were mutual.

'It's not just about the money. I know some of the other teams and first of all your contribution would not be acknowledged.

'Secondly, they are big-budget organisations and you would not get the feeling you're making a difference. Everybody here not only feels, but they know their piece makes a difference.

'I'll probably speak to Grant 20 minutes a day, watch some of the races on my boat, not all of them, and that will be about all the contact I have.

'But if Grant wants something or needs a problem solved, he knows he only has to pick up the phone. Team New Zealand won't be alone in Valencia.'

Republished in full with permission of Sunday Star Times www.sstlive.co.nz

Hyde Sails 2024 - One DesignVetus-Maxwell 2021 v2 FOOTERExcess Catamarans

Related Articles

Seldén Rodkicker 50 - manual rigid vang
Specifically sized for yachts between 50 and 55 feet A Rodkicker rigid vang is designed to enhance sail handling during reefing and allows for greater sail trim control.
Posted today at 8:00 am
WASZP Games 2025: Talent & fun descend on Weymouth
Poised to be the largest and most competitive in the class's history The 2025 International WASZP Games, set to take place from July 19–25 at the Weymouth & Portland National Sailing Academy, are poised to be the largest and most competitive in the class's history.
Posted today at 7:23 am
Queensland Yachting Survey 2025 Feedback
The results are in, gathering valuable insights directly from the sailing community Following this year's Brisbane to Gladstone Yacht Race, a group of passionate and experienced individuals from the sailing community gathered to discuss the current state of yachting in Queensland.
Posted today at 5:18 am
Transpac 2025 Update: Moon River Tonight!
The magic of offshore racing in the 2025 Transpac A vast ocean separates Los Angeles, California, from Honolulu, Hawaii, but the boats racing in this year's Transpac have now crossed the halfway mark. Race leaders are in the tradewinds and making their approach to the Aloha State.
Posted today at 12:26 am
All smiles among first finishers of the AEGEAN 600
The fastest teams crossed the finish line today at Cape Sounion As the fastest teams crossed the finish line today at Cape Sounion and made their way to the harbour at Olympic Marine, there were exhausted smiles all around.
Posted on 10 Jul
British Classic Week day 4
It was a classic Solent day in Cowes for the OneSails inshore race It was a classic Solent day in Cowes for day 4 of British Classic Week with hot temperatures, sunshine and no breeze in the morning before the sea breeze kicked in from the west and it was time to go racing.
Posted on 10 Jul
iQFOiL Worlds a Aarhus day 5
Finalists locked in for new Medal Series format With the sea breeze stubbornly refusing to make an appearance, Day 5 of the iQFOiL World Championship turned into a long waiting game both ashore and on the water.
Posted on 10 Jul
Jazz Turner Video Interview
How she Faced Everything And Rose during Project FEAR I travelled to Brighton Marina to catch up with Jazz, talking about her own sailing, the challenges she faced during the circumnavigation, how the money raised will be used, and a glimpse of her future projects!
Posted on 10 Jul
America's Cup: Luna Rossa to sail for Naples club.
Italian Challenger Luna Rossa will contest the next America's Cup as the team of a Naples club. Italian Challenger Luna Rossa will contest its seventh America's Cup as the team of the Circolo del Remo e della Vela Italia of Naples, as club that is new to the America's Cup.
Posted on 10 Jul
International Moth Worlds at Lake Garda Day 3
Big breeze in the morning, calm in the afternoon The third day of racing at the 2025 Moth World Championship kicked off early, with the first warning signal for the Blue fleet scheduled for 8:30 AM. Due to strong northerly winds, however, the fleet's departure was postponed to 9:00.
Posted on 10 Jul