We can’t be that old… when the first edition (above) of Seahorse came out in November 1969 Fredrick Wallenberg’s 2021 Fastnet entry Refanut was already into her 15th racing season. The 63ft Sparkman & Stephens yawl was originally built for Fredrick’s grandfather Jacob Wallenberg in 1955 and has stayed in his family ever since. Beating past the Needles (left) Refanut made a magnificent sight, but not as magnificent as Apivia, far ahead sailing upwind at five-times the speed… two-handed and with a dry and relaxed Charlie Dalin waving cheerfully from the helm
FOLLOW THE MONEY – Jack Griffin Last month we noted that in 1902 The New York Herald printed the headline ‘No News of Cup Challenge’. Like The Herald in 1902, we’re also impatient for news of the
next America’s Cup, and we are finally getting some. Team New Zealand have confirmed that they will announce the venue, as promised, by 17 September, with the protocol coming by some time in November. They have told us that there remains a small chance that they will defend in Auckland and that they have short- listed three other venues. Groups in Valencia, Spain and Cork, Ire- land have both communicated their interest. A Kiwi businessman proposed a structure with public and private investment to keep AC37 in Auckland. Given that he chose not to meet Team New Zealand and that his reported net worth is about US$150 million, this seems about as likely as the challenge from Malta for AC36. Follow the money. Team New Zealand need money to run the
event and to fund the team. The venues want a return on their investment. The team has pointed out that finding the money is crucial, ‘but the contractual aspects of accepting and advancing that money’ are equally important. Those ‘contractual aspects’ will probably include the number of challengers and the length of time they will spend in the venue. Follow the money. Will there be two challenges from the US for
AC37? The leadership of the New York Yacht Club chose not to renew their contract with American Magic and instead announced an alliance with Stars+Stripes. American Magic has since pointed out that the team owns the boats, equipment, designs and all of the data from AC36 and that their billionaire principals, Hap Fauth and Doug DeVos, are committed to the next challenge. Their third principal, Roger Penske, has said that he is waiting for more
information on the venue, dates, protocol and design rule. The NYYC announcement said that they planned to have the partnerships and support in place for their syndicate by the time the venue and date are announced. That would be right around… now. Will there be two challenges from the US? When? When will AC37 be held? The idea of a mutual consent
match on the Solent in 2022 between Team New Zealand and challenger of record Ineos Team UK has evaporated. It was never clear who would underwrite the costs. And the risk of Covid playing havoc with the event and sponsor activation in 2022 looks greater now than when that idea was mooted. TNZ gave us a clue in their mid-August update, saying they would be improving their match racing skills ‘over the next three years’ – that sounds like we should expect the match in 2024, some time before the Paris Olympics. Who? The three challengers from AC36 – Ineos, Luna Rossa
and American Magic – have billionaire backing. Luna Rossa pre- viously said they will challenge again, assuming a reasonable protocol and design rule. American Magic have received enough information to announce that they will compete in AC37 and that they have hired Scott Ferguson as their new head of design. Their former head of design, Marcelo Botín, appears to have been hired away to another team, one with its funding already in place. We’ll soon know the venue and the date. Negotiations with the
venue will impact the protocol, which in turn will impact the team budgets. Will there be preliminary regattas anywhere outside the venue of the match? When will teams be required to be in the venue? How will the AC75 Class Rule change? Will there be more stored energy and fewer grinders? Will teams be allowed to build more than one new boat? Follow the money. If you can find it.
CupExperience.com
SEAHORSE 15
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