The America's Cup Race Management, which a few months ago had optimistically announced 14 teams for the next competition, has announced another departure. Following the embarrassing withdrawal of the official challenger Mascalzone Latino in May, Venezia Challenge is now also likely to have suffered fiscal shipwreck. This means that the field has shrunk to eight teams ahead of the first America's Cup World Series competition, which premieres in Cascais in a fortnight' time.
"Venezia Challenge has not fulfilled the obligations required for admission to the 34th America's Cup," announced Tom Ehman, Deputy Commodore of the Golden Gate Yacht Club, under whose flag the defender Oracle Racing sails. As a result, the Italians' club, Club Canottieri Roggero di Lauria, was "excused from further participation by the GGYC," as the dusty Cup jargon goes.
The syndicate published yesterday on its own Website a counterstatement rejecting the procedure and claiming that it was a one-sided interpretation of the facts without the involvement of the independent jury. It also criticises the fact that the procedure contradicts the protocol that governs the procedure for exclusion. Finally, the statement assures that every effort will be made to maintain the technical and sporting programme of the team, which is currently in Lisbon.
All participants had to commit to purchasing an AC45 catamaran by 10 June (unit price approx. 700,000 euros). By 1 August, 100,000 US dollars in entry fees are due for the AC45 series. And by 1 June 2012, an entry fee of 200,000 US dollars must be paid for the regattas with the AC72 cats, on which the actual Cup will then be sailed in San Francisco in 2013. This does not include the cost of designing and building an AC72 cat. Will everyone be able to afford it? The remaining eight teams:
Defender
Oracle Racing, Golden Gate Yacht Club (USA)
Challenger
Aleph-Equipe de France, Aleph Yacht Club (FRA)
Artemis Racing, Kungliga Svenska Segal Sallskapet (SWE)
China Team, Mei Fan Yacht Club (CHN)
Emirates Team New Zealand, Royal New Zealand Yacht Squadron (NZL)
Energy Challenge, Yacht Club de France (FRA)
Green Comm Racing, Real Club Nautico de Valencia (ESP)
White Tiger Challenge, Sail Korea Yacht Club (ROK)
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