Emirates Team New Zealand update   25 Jun 2014

Emirates Team New Zealand chairman Dr Keith Turner says the team has now reached the point where it has the confidence to mount a challenge for the 35th America’s Cup.

The team has secured sufficient private and sponsorship funding to proceed to the next stage without needing Government funding during this period.

“Now, with the assistance of long-time supporters Sir Stephen Tindall, Matteo de Nora and other private Donors and Sponsors, we are delighted to be able to say that we are funded through to late this year.

CEO Grant Dalton said: “The team has been working towards this moment almost since the day of the last race in San Francisco.

“The funding support for the team that has coalesced over the past week means we can continue the design and engineering development, and keep racing, until main sponsorship funds begin to flow.

“To avoid falling behind the opposition, our design and engineering team has been working on the software tools they will need for the challenge.”

This week sailing team members are competing in two regattas: Dean Barker, Glenn Ashby and Chris Nicholson are at the European A Class championships in France and Olympic 49er sailors Peter Burling and Blair Tuke with Jeremy Lomas, Ray Davies and Edwin DeLaat are in Russia for the Extreme Sailing Series which starts on Thursday."

“The Protocol and the design rule has been published so we know what we are working with and we are confident we can mount a challenge that has the potential to win.

“Amendments to the Protocol have removed some of the more contentious issues. If this Protocol follows the pattern of previous Cup cycles, more amendments will follow. The so called 2 boat rule for the defender is not the problem suggested by recent media reports.”

“We now await the announcement of venue for the challengers’ preliminary series and then the venue for the challengers’ semi-finals, finals and the America’s Cup match, so that we can put the finishing touches to the team’s business plan and present it to our backers for approval.”

Entries for the 35th America’s Cup close on August 8.

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