Please select your home edition
Edition
Allen Dynamic 40 Leaderboard

America's Cup: ETNZ Board Chair hits back at false allegations

by Richard Gladwell/Sail-World NZ 14 Jun 2021 02:24 PDT 14 June 2021
Prime Minister Jacinda Adhern (cetre) with Sir Stephen Tindall (right) ETNZ Chairman, Emirates Team New Zealand launch the world's first AC75, Auckland, September 6, © Richard Gladwell / Sail-World.com

Sir Stephen Tindall, the recently resigned Chairman of the Board of Emirates Team New Zealand has responded angrily to media claims that his retirement is "proof positive" that he does not agree with the direction the team is taking for its fourth Defence of the America's Cup.

The claims first surfaced in the international media over a week ago, and were repeated prominently in a leading and usually authoritative New Zealand business publication in a report on the defence plans for the America's Cup.

Late Monday afternoon Sir Stephen, who took over the Chairmanship when the restructured Team New Zealand Ltd Board was put in place in 2013, issued a written statement which was circulated by the team.

“I can categorically confirm that my retirement from as Director of Emirates Team New Zealand has absolutely nothing to do with the whereabouts of venue for the 37th America’s Cup. I am offended that [person's name redacted], without speaking to me would represent my retirement in such an uninformed manner to suit his own agenda and it would appear that of the [entity's name redacted].

"As a long term director of the team I completely understand the commercial realities of keeping the team operational and funded to be able to defend the America’s Cup and this is the number one priority for the team. The challenges of funding the team are even greater in a Covid 19 ravaged world."

"The decision on venue is related directly to the need to keep the team financially viable but of course it is mine, and everyone else at ETNZs preference to hold the 37th Americas Cup in New Zealand."

"But if the team aren’t able to defend the Cup due to lack of committed funding then the staging of the event becomes something of a moot point.”

Sir Stephen joined as a Director on October 2013, and resigned on June 3, 2021. He has been replaced by leading commercial lawyer and corporate adviser, Greg Horton who was a Board member prior to the 36th America's Cup Defence, when he switched across to be on the Board of America's Cup Event Ltd. Horton is a nominal shareholder of Team NZ Ltd. Grant Dalton has replaced Sir Stephen Tindall as the other nominal shareholder.

A much-publicised meeting will be held at the Royal New Zealand Yacht Squadron Tuesday. It is one of several that have been held from time to time to update the RNZYS membership on the progress of the team as it prepared for AC36. The main topic of the upcoming meeting is expected to be the teams negotiations with the NZ Government and Auckland Council over the financial aspects of the 37th America's Cup and those two parties possible involvement.

In a separate issue some RNZYS members, unhappy with the perceived direction being taken by Team New Zealand, are attempting to garner enough support from the RNZYS members to call a Special Meeting of the club. A special meeting may be called by a group of 25 members, 18 days notice must be given of a special meeting, and it must have a quorum of 50 members.

Related Articles

America's Cup: Confidential settlement reached
(Updated) A confidential settlement reached over five year Cup legal claims. Confidential settlement reached between the America's Cup team Emirates Team New Zealand and their formerly contracted Event Managers, Mayo & Calder, and others associated with the company. But what of Mainstream Media's role in the affair? Posted on 29 Jun
America's Cup - #3 Finish Line
The Cup is still undecided. And somewhere, in one last simulation, the universe holds its breath. The Cup is still undecided. And somewhere, in one last simulation, the universe holds its breath. Step into the last leg. This is where legends break — or rise. Posted on 23 Jun
Cup Spy: "Burling Rule" unlikely to be changed
The Defender is unlikely to soften the Rules and allow open season on its sailing team. Despite the shift of three times America's Cup winner, Peter Burling it is understood that there is unlikely to be any softening of the Nationality rule to enable Burling to get any closer to the action than a chase-boat in the 38th America's Cup. Posted on 20 Jun
Burling "excited' by Italian move
In a media statement issued by his Media Team, Burling says he remains fully committed to his role w In a media statement issued by his Media Team, Burling says he remains fully committed to his role with Black Foils, the New Zealand SailGP Team. Posted on 20 Jun
America's Cup: Kiwis advertising for key people
Emirates Team NZ seeking new people for key roles ahead of its 12th America's Cup campaign Emirates Team New Zealand, the current America's Cup champion is gearing up for the 2027 Defence of the most prestigious trophy in sailing. The team has advertised eight positions in the IT, Meteorology and Engineering areas Posted on 12 Jun
America's Cup: Another sponsor signs for Italians
Luna Rossa has announced that Unipol has renewed its trust in the team Luna Rossa has announced that Unipol has renewed its trust in the team and will accompany it as an official sponsor for the duration of the 38th America's Cup. Posted on 5 Jun
America's Cup fillibustered by Challengers
A Cup in turmoil - Protocol is unsigned - with entries due to open on Sunday. Updated story: America's Cup got underway in Rome on Monday, with Round 2 of the official welcoming ceremonies on Wednesday in Naples. However three teams are working in collusion and have again issued statements within minutes of each other. Posted on 29 May
America's Cup enthusiastically received in Naples
The Castel dell'Ovo, was the venue for the arrival of the America's Cup in Napes The Castel dell'Ovo, set on the tuft peninsula of Megaride was the outstanding setting for the Official Host Venue Presentation of the Louis Vuitton 38th America's Cup. Posted on 28 May
Italian PM welcomes America's Cup in Rome
Prime Minister Meloni set out a bold vision for the regeneration planned around AC38 The magnificent setting of the Casino del Bel Respiro, commissioned by Pope Innocent X in 1644, in the grounds of Villa Pamphilj, was the outstanding and historic setting for the formal presentation of the Louis Vuitton 38th America's Cup. Posted on 26 May
America's Cup: Big changes in crew line-up
Women and Youth crews to sail in AC75 in the next Cup - Final Draft of AC38 Protocol Historic changes are proposed in the Final Draft of the Protocol released by the America's Cup Defender. For the first time a Female and Youth crew members will be part of the six-crew lineup on board the all-electric AC75s. Posted on 23 May
Exposure MarineRS Sailing 2021 - FOOTERC-Tech 2020 Battens 2 728x90 BOTTOM