The much flagged, smoke-signalled, rumoured and inevitable postponement has become fact - America’s Cup Management (ACM) have finally announced that the original date for a Cup defence of 2009 cannot be achieved…
‘The ongoing uncertainty around the conclusion of the New York court case brought by BMW Oracle Racing (BOR) leaves the organisers no choice but to delay the event, as many indicators demonstrate a lack of viability to stage the event in 2009 to the same standards as the 32nd America's Cup.’
Meanwhile they will await the result from the New York State Supreme Court, and…
‘If the New York Supreme Court rules that CNEV (Challenger of Record, Club Náutico Español de Vela) is valid and BOR chooses not to appeal the decision, ACM will endeavour to work with the competitors to adapt the existing rules and regulations and put in place a new framework for an event to take place at a later stage in Valencia.
‘Should the US Courts rule against CNEV, SNG will accept the Golden Gate Yacht Club Deed of Gift Challenge and meet them in a vessel, possibly a multihull, in accordance with the terms of the Deed of Gift.’
GGYC’s response was posted on their website as efficiently as ever. Tom Ehman saying that the delay was ‘Unfortunate and unnecessary...’ Presumably they are now working flat out on what that 90 foot cat might look like... unless Alinghi are bluffing about not appealing. What a game.
There's been plenty of speculation that ACM need the time to do things like find a sponsor for the Cup. And the Spanish media are alleging that there's a stand-off between the Mayor of Valencia and the Government over who holds the Chair of the organisation that will run the Valencia side of the event. Apparently the Government want it to rotate, and Mayor Barbera is insisting that it’s her privilege alone - meanwhile the organisation appears to be in some sort of limbo. Something else that perhaps needs a little time to sort out?
Another issue that will arise out of the postponement is the planned expansion of Valencia's port - I believe the work to double the port’s operational area was originally slated for 2010/11 – no problem under the 2009 scenario, but a bit tricky now.
It’s also interesting that ACM have left the entry deadline at 15th December - a little over three weeks away. It means challengers have to stump up a 950,000 Euro performance bond that they will lose should they not subsequently turn up at a series of events whose whereabouts and timing are completely unknown. Now I know a million Euros is not a lot of money in the greater scheme of an America’s Cup campaign, but it’s still the kind of dough that would buy you a pretty decent house around these parts. Just.
Nevertheless, there appear to be plenty of takers, perhaps driven by the declining number of shorebases in Valencia, and/or the need to enter to renew existing leases and maintain operations there. ACM stated in the press release that they now have eight entered challengers, with another couple doing the paperwork. Presumably Mascalzone is one of them, announcing their challenge through the Reale Yacht Club Canottieri Savoia (RYCCS) on their website, but with no detail. Or what might be interpreted as a marked lack of enthusiasm. They have been joined by the new Spanish syndicate AYRE Challenge, representing Real Club Náutico de Dénia (RCND) – more detail on this one at Valencia Sailing blogspot.
But who’s the eighth? An earlier announcement from ACM had stated that… ‘In addition to Ayre's entry, there is one other new team whose challenge has already been confirmed, but who has requested confidentiality pending its own announcement.’
Meanwhile, the uncertainty has forced Team New Zealand (TNZ) to issue denials of a Times story that Dalton would shut the operation down if the court case wasn’t settled by the end of the year. It might make sense to close the doors for a while till the dust settles, these teams burn money while they're operating, but TNZ has a much greater asset value as a going concern than as a fire-sale of pieces. I can't believe that Dalts would shut it down completely as anything but an absolutely last resort...
Team Origin have responded to the situation with some pretty direct language... 'If that (settlement and a 2010/11 event) doesn't happen we can only surmise the greed of one side is only matched by the belligerence of the other.'
While Sail-World have another interview with Hamish Ross, Alinghi's General Counsel, which doesn't - to be honest - tell us much we don't already know...
And as for the much maligned issue of CNEV’s annual regatta (which may or may not be at the heart of the court case), their third attempt to hold it is underway…
There’s an interview with Grant Simmer, Alinghi’s design team coordinator on their website…
And I'm off surfing next week, although the swell forecast is marginal at best, there comes a time when you just have to get in the water regardless. But hopefully there will be a wi-fi link somewhere should there be anything worth reporting...
www.markchisnell.com
Mark Chisnell ©
‘The ongoing uncertainty around the conclusion of the New York court case brought by BMW Oracle Racing (BOR) leaves the organisers no choice but to delay the event, as many indicators demonstrate a lack of viability to stage the event in 2009 to the same standards as the 32nd America's Cup.’
Meanwhile they will await the result from the New York State Supreme Court, and…
‘If the New York Supreme Court rules that CNEV (Challenger of Record, Club Náutico Español de Vela) is valid and BOR chooses not to appeal the decision, ACM will endeavour to work with the competitors to adapt the existing rules and regulations and put in place a new framework for an event to take place at a later stage in Valencia.
‘Should the US Courts rule against CNEV, SNG will accept the Golden Gate Yacht Club Deed of Gift Challenge and meet them in a vessel, possibly a multihull, in accordance with the terms of the Deed of Gift.’
GGYC’s response was posted on their website as efficiently as ever. Tom Ehman saying that the delay was ‘Unfortunate and unnecessary...’ Presumably they are now working flat out on what that 90 foot cat might look like... unless Alinghi are bluffing about not appealing. What a game.
There's been plenty of speculation that ACM need the time to do things like find a sponsor for the Cup. And the Spanish media are alleging that there's a stand-off between the Mayor of Valencia and the Government over who holds the Chair of the organisation that will run the Valencia side of the event. Apparently the Government want it to rotate, and Mayor Barbera is insisting that it’s her privilege alone - meanwhile the organisation appears to be in some sort of limbo. Something else that perhaps needs a little time to sort out?
Another issue that will arise out of the postponement is the planned expansion of Valencia's port - I believe the work to double the port’s operational area was originally slated for 2010/11 – no problem under the 2009 scenario, but a bit tricky now.
It’s also interesting that ACM have left the entry deadline at 15th December - a little over three weeks away. It means challengers have to stump up a 950,000 Euro performance bond that they will lose should they not subsequently turn up at a series of events whose whereabouts and timing are completely unknown. Now I know a million Euros is not a lot of money in the greater scheme of an America’s Cup campaign, but it’s still the kind of dough that would buy you a pretty decent house around these parts. Just.
Nevertheless, there appear to be plenty of takers, perhaps driven by the declining number of shorebases in Valencia, and/or the need to enter to renew existing leases and maintain operations there. ACM stated in the press release that they now have eight entered challengers, with another couple doing the paperwork. Presumably Mascalzone is one of them, announcing their challenge through the Reale Yacht Club Canottieri Savoia (RYCCS) on their website, but with no detail. Or what might be interpreted as a marked lack of enthusiasm. They have been joined by the new Spanish syndicate AYRE Challenge, representing Real Club Náutico de Dénia (RCND) – more detail on this one at Valencia Sailing blogspot.
But who’s the eighth? An earlier announcement from ACM had stated that… ‘In addition to Ayre's entry, there is one other new team whose challenge has already been confirmed, but who has requested confidentiality pending its own announcement.’
Meanwhile, the uncertainty has forced Team New Zealand (TNZ) to issue denials of a Times story that Dalton would shut the operation down if the court case wasn’t settled by the end of the year. It might make sense to close the doors for a while till the dust settles, these teams burn money while they're operating, but TNZ has a much greater asset value as a going concern than as a fire-sale of pieces. I can't believe that Dalts would shut it down completely as anything but an absolutely last resort...
Team Origin have responded to the situation with some pretty direct language... 'If that (settlement and a 2010/11 event) doesn't happen we can only surmise the greed of one side is only matched by the belligerence of the other.'
While Sail-World have another interview with Hamish Ross, Alinghi's General Counsel, which doesn't - to be honest - tell us much we don't already know...
And as for the much maligned issue of CNEV’s annual regatta (which may or may not be at the heart of the court case), their third attempt to hold it is underway…
There’s an interview with Grant Simmer, Alinghi’s design team coordinator on their website…
And I'm off surfing next week, although the swell forecast is marginal at best, there comes a time when you just have to get in the water regardless. But hopefully there will be a wi-fi link somewhere should there be anything worth reporting...
www.markchisnell.com
Mark Chisnell ©