Wednesday, March 19, 2008

Fred Meyer, Vice-commodore of the SNG, writes Marcus Young, Commodore of the GGYC

19 March 2008
Commodore Marcus Young
Golden Gate Yacht Club
#1 Yacht Road
San Francisco, California 94123
Dear Commodore,

In accordance with Justice Cahn’s memorandum decision of yesterday, we are writing to try to reach mutual agreement on the race dates for the 33rd America’s Cup and move the activity away from the court room and back onto the water as soon as practicable.

In order to allow both the Defender and the Challenger time to prepare for the match, the Deed of Gift specifies a 10-month notice period. Société Nautique de Genève is happy to meet GGYC on the water on any race date that GGYC wishes to specify in compliance with the Deed of Gift.

We believe that the earliest date that GGYC could propose for us to meet on the water is 1 May 2009 as described below:

- GGYC issued its challenge on 11 July 2007.
- The 10-month notice period was then interrupted by GGYC’s filing of this lawsuit nine days later, on 20 July 2007.
- The notice period then resumed with Justice Cahn’s issuance of a final order dated 17 March 2008.
- The notice period is now running again and will expire on or about 7 January 2009.
- GGYC’s challenge specifies a race in the Northern Hemisphere.
- The Deed of Gift permits races in the Northern Hemisphere only between 1 May and 1 November.
- Thus, the earliest possible first race date compliant with the Deed of Gift is 1 May 2009.

In the Northern Hemisphere the sailing conditions are generally preferable in July compared with May; we would therefore propose that GGYC select dates for racing in July 2009 in order to guarantee a successful and compelling event.

We are hopeful that a race date can be set without continued litigation. However, if we are unable to agree upon a date for racing we would suggest that we return to Justice Cahn as soon as possible as instructed in his recent order.

As reflected in our public statements of yesterday, it is in the best interests of the America’s Cup to resolve any remaining issues without prolonged litigation in court.

We look forward to your prompt response.

Yours sincerely,

Fred Meyer
Head of America’s Cup Committee
Société Nautique de Genève

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