Please select your home edition
Edition
North Sails 2021 Innovation - LEADERBOARD

America's Cup: Grant Dalton lets rip a month ahead of the 37th AC venue announcement

by Grant Dalton, ETNZ 16 Aug 2021 13:39 PDT 17 August 2021
Te Rehutai, Emirates Team New Zealand - Waitemata Harbour - America's Cup 36 © Richard Gladwell / Sail-World.com

Twice winner of the America's Cup, and Emirates Team New Zealand CEO, Grant Dalton puts a few rumours to rest a month out from the AC37 venue announcement on September 17

So today, 17 August 2021 – being five months since we won the 36th Americas Cup and just one month from the Venue Announcement of the 37th America’s Cup – I think it’s a good time for an update.

I’ve heard it said that: ‘Emirates Team New Zealand would be better losing the 37th America’s Cup in New Zealand, than winning it offshore.’ Of course these are comments that come from outside the team and one expects from people with some sort of vested interest. I still find it astonishing that anyone would expect such a team as ours to set themselves up to lose.

You will have read several weeks ago of an offer by a private investor to financially help the team. To date, with time ticking, I have only had one conversation with him and no proposal. All that we are in possession of is an elaborate flow chart showing a complex but typical investment banking structured deal, through which tax can be minimised as the Crown and the private investor’s money flows through to a company owned and controlled by him. This structure is also based on the questionable premise that the Royal New Zealand Yacht Squadron’s status as a not-for-profit organisation would also be utilised. Emirates Team New Zealand and America’s Cup Event will have no part in any such tax structures and we are also extremely concerned that control over the team and the event would ultimately rest with private investors who have played no part in the achievements of the current team.

In the only conversation or communication I have had with this private investor he expressed confidence that the Government would significantly increase their cash contribution to the team and the event for the 37th America’s Cup, but we have not been privy to these discussions so have no view on whether that might happen. However, we have already said that given the current climate in which we all live, we accepted that the Government and Council’s offer was both final and made in good faith.

We need to remain hopeful that there is still a chance (albeit small), that a successful Defence is held in New Zealand. As part of continuing negotiations we have provided a draft Host Venue Agreement (HVA) to the Crown several weeks ago and are awaiting feedback. Finding the money for the event is crucial but the contractual aspects of accepting and advancing that money is of equal importance.

In the meantime we have been busy analysing the pros and cons of the other shortlisted countries. We received a significant number of expressions of interest and that has now been narrowed to three. The expanded opportunities that appear to present themselves will enable Emirates Team New Zealand to retain all key personnel and mount a winnable defence as well as enhance the profile of the most successful America’s Cup team in history. The goal is firmly the ‘three-peat’, it has never been done before.

Meanwhile the Protocol drafting continues at pace. Along with The Challenger of Record we can promise an innovative Protocol which addresses diversity in the sport, sustainability, youth as well as cost control to help enhance entry numbers - but that’s for another day.

From a team’s perspective, we completed a very extensive and detailed review of the last campaign. In fact the way to think about it is that the review was even more thorough than after we lost in San Francisco. You may ask, why - you won? And actually that’s the answer, because we won. To repeat the campaign the same way is asking to be beaten, teams will not only catch up but in fact pass us. Amongst many recommendations which included continuing to boldly push the boundaries in design, innovation and performance, also identified was a need to enhance our Match Racing experience and over the next three years expect to see us more active in that space.

So watch this space, not long now and the Venue will be announced, soon after the Protocol allowing teams to plan their strategies to try and win from us the oldest trophy in international sport.

Just in closing, good on American Magic to pick themselves up and today announce a new Design Coordinator thus starting their journey towards their Challenge for the 37th America’s Cup

Related Articles

Prominent RNZYS members resign over Cup hosting
Michael Fay: 'That, to us, is a slap in the face for everyone and everything that has gone before.' Radio New Zealand reported this evening that three prominent members of the Royal New Zealand Yacht Squadron have resigned over the decision to allocate the the venue hosting for the 2024 America's Cup to Barcelona. Posted today at 6:35 am
America's Cup: Update on INEOS Team Britannia
The INEOS media crew caught up with Giles Scott on the team's preparations ahead of a move to Spain The INEOS media crew caught up with Giles Scott, Senior Sailor, on how the team has been busy preparing to begin their Winter Training Camp in Palma later this year, sailing their AC40 Test Boat. Posted on 17 Aug
America's Cup: Spying on the Spies in Barcelona
Unique to the 37th America's Cup, is an ambitious joint reconnaissance programme Unique to the 37th America's Cup, and set against this intense backdrop, is an ambitious joint reconnaissance programme, the brainchild of Emirates Team New Zealand's Chief Designer, Dan Bernasconi, and championed by Event CEO Grant Dalton. Posted on 16 Aug
America's Cup: Ready, Steady, Build!
America's Cup teams take over after base allocations determined - construction commences The final base allocations have been confirmed as Barcelona begins preparations for the 37th America's Cup and soon, the builders will move in as each team constructs their own base with a concentration on form, function and fan engagement. Posted on 16 Aug
Cup Critiqued: Swiss delayed..Challenger List
Alinghi Red Bull Racing's first sailing in their AC75 , has been delayed. Challengers confirmed Alinghi Red Bull Racing's first sailing in their AC75 BoatZero, has been delayed by unfavourable weather in Barcelona. The List of Challengers and order of entry is announced. Luna Rossa re-sign with performance technology partner for 2024 America's Cup. Posted on 12 Aug
Cup Critiqued: Coach Barker joins Alinghi
Rumours that Dean Barker had signed with Alinghi Red Bull Racing, were confirmed at the ARBR launch The rumours were confirmed at the launch of Alinghi Red Bull Racing's newly acquired AC75, that Dean Barker a veteran of seven America's Cups, has shifted to the ARBR coach boat. Posted on 9 Aug
America's Cup: First team ready to foil at venue
The first boat has already splashed in the just four months after the Barcelona venue was announced The first boat has already splashed in the coming America's Cup cycle - just four months after the venue was announced for Barcelona. Twice Cup champion Alinghi Red Bull Racing, was rolled out of the shed and christened in Barcelona. Posted on 8 Aug
America's Cup: Alinghi confirms Barcelona roll-out
Alinghi Red Bull Racing confirms almost ready to go in Barcelona - more action later this week? Via social media the Swiss America's Cup Challenger Alinghi Red Bull Racing have advised they are almost ready to launch their AC75, formerly Emirates Team NZ's Te Aihe, in Barcelona. Posted on 8 Aug
America's Cup: Multiple changes made to Protocol
Significant changes made to the Rules governing the 2024 America's Cup and Surrogate Boats Some of the changes relate to the announcement of Barcelona as the Host Venue, others close loopholes that could have been exploited, and there is a substantial section on Hydrogen-Powered Support vessels. Posted on 5 Aug
America's Cup bases now being allocated to teams
Defender has first choice on site in Barcelona Dalton: "All of the bases are located in the Barcelona Port Vell area along with the dedicated America's Cup race village, hospitality and fan zone areas which will create an amazing atmosphere in the lead up to and during the event in 2024." Posted on 2 Aug
Marine Resources 2022 Salary Survey FOOTERSea Sure 2021 - FLO - FOOTERHella Dual Colour Floodlights - 728 x 90px - 004 gif Bottom