New York Yacht Club Joins America's Cup Discussions

[Source: New York Yacht Club] New York, N.Y. December 7, 2007 — The New York Yacht Club confirmed today that it has agreed to join discussions related to the future conduct of racing for the America's Cup.

Charles H. Townsend, commodore of the New York Yacht Club, said, "We were approached earlier in the year by Mr. Ernesto Bertarelli of Societe Nautique de Geneve (SNG), the current holder of the Cup. We concluded that given our club's founding association with the competition we can work impartially to assist in the development of initiatives to preserve and build competition for the oldest international trophy in sport, and ensure that it will endure as a premiere global sporting event for generations to come."

Commodore Townsend also announced that the Club would be represented in discussions with the Cup community by Trustee and Chairman of the Club's America's Cup Committee, George W. Carmany III. "In addition to Ernesto Bertarelli, we have received an expression of support for this initiative from Larry Ellison, owner of Golden Gate Yacht Club's (GGYC) America's Cup team," said Mr. Carmany. "We hope that our discussions will lead to agreements that will benefit all members of the broader America's Cup community."

“We do not want this initiative to interfere in any way with Golden Gate Yacht Club’s current America’s Cup challenge. While we do not wish to foreclose other options which either SNG or GGYC may wish to pursue regarding the conduct of the next America’s Cup match, we are available to participate in discussions that consider changes to the governing documents to facilitate the future conduct of regular and independently managed competitions at locations throughout the world,” concluded Mr. Carmany.

"While we understand that we are not contemplating a simple task, we are made confident in undertaking the effort by the support and encouragement of Larry Ellison and Ernesto Bertarelli," said Commodore Townsend. "We compliment both gentlemen on their foresight and willingness to participate in the discussions. We are hopeful that this initiative can be beneficial to all those who compete for the America’s Cup, and to the fans who enjoy it so much."