Alinghi and BMW Oracle reach agreement; all lawsuits dropped
[Source: BMW Oracle] An agreement has been reached with the previous America’s Cup Trustee, Société Nautique de Genève, that all outstanding litigation in the New York courts concerning the recent 33rd match will be dropped by both sides.
This includes GGYC’s Breach of Fiduciary Duty (“BFD”) claim against SNG, as well as all other claims over the design and construction of yachts Alinghi 5 and USA. GGYC’s yacht USA won the 33rd Match on February 14 off Valencia, Spain.
“In place of controversy, we seek consensus. Instead of continuing argument, we are pleased to have reached agreement,” said GGYC Commodore Marcus Young.
GGYC’s representatives have started a consultative process with regard to the venue, timing, format and type of boat for the 34th America’s Cup. GGYC and the Challenger of Record, Club Nautico di Roma and its sailing team Mascalzone Latino headed by Vincenzo Onorato, are cooperating closely in this.
“Good decisions not hasty decisions – this is what the Cup community wants,” added Russell Coutts, CEO of GGYC’s sailing team BMW ORACLE Racing.
“Our focus is on looking ahead and making the 34th edition of the oldest trophy in international sports the best America’s Cup yet.”
Discussions will continue over the next six months with the details of the 34th Cup confirmed during 2010.
“We will do our best to fulfill Larry Ellison’s vision of a competition which respects the Cup’s unique tradition whilst moving forward with the latest technology to attract an even wider audience,” commented Coutts.
Labels: 33rd America's Cup, Alinghi, BMW Oracle
13 Comments:
Good news is the lawsuits are over. Now, not surprisingly, BOR is taking a lot of time to get something concrete on the table.
We won't know anything until end of 2010. During that time, BOR gets ready while all other challengers are stocked with speculations.
Magnificient proof of BOR altruism towards the challengers.
Well done Russell, you definitely know how to screw people.
Well at least we know that the next time someone wants to sail the Real America's Cup - i.e. take on DZ - they don't have to suck up all that CiC Bullshit. In the meantime the fans can enjoy their RC44 poodle parade, followed by the RC80 AC One design poodle parade - who said the America's Cup was a design and build challenge anyway ???
8:14, 100% correct........ The waiting game begins. Douche Bags.
Or, maybe all of Alinghi fanboys just suck at parity. Sorry you lost on the water, away from the courtroom, and have to live with the consequences of a fair and lengthy return to normalcy.
I for one am excited for a well thought out and traditional AC34.
«Discussions will continue over the next six months»
Yep... Let BOR get a huge lead start... In the meanwhile use propaganda to make everyone believe that BOR is making it fair.
@10:40am, agree w. you on that one...
7:54 a.m.
"well thought out and traditional AC34..."
What are you smoking??? What's traditional about what little they've told us. What they are talking about doing has never been done... so I'm not understanding the traditional comment.
They are turning it into just another one design class. RC will market a new boat and make a load of cash. Countries/teams working toward having the best sailing team combined with the best technology is "traditional!" Not sure what this crap they are peddling is... Just know Russell is smiling all the way to the bank!
Poeple have been complaining bitterly about excessive litigation during AC33. Now the two parties finally come to a settlement and clear the way for the AC 34 and all I can read here is more complaints about this and that...
Fo all you bitchers and moaners
I think it is time to let go and accept that the new defender is BMWOracle and that the new legitimate Callenger of Record is Mascalzone Latino.
all this seems to show is that the court cases were just a good way to have excuses when oracle didn't win. if they truly believed in the "constructed in home country" rule, then they would have continued with the case. they just needed an out clause if they lost.
i agree with most of you about the fact that teams that are trying to survive or form have no chance now.
i never believed oracle would keep to any of the promises they made before the race and so far, they seem to have proved it!!
great for the guys and families on oracle and mascalzone, they have a future (and i mean that honestly), but the countless of other people have to try and survive through the next couple of years and hope they have something to go back to.
It's fucking horseshit of the highest ordure. CiC issues have not been addressed in a cop-out to an expedient return to the Cup Gravy train - so long as the train runs through Russel's private railway siding.Good news for those that get their arse wet,pull sails up and down and suck someone's knob from time to time to get a ride. Bad news for everybody else.
“We will do our best to fulfill Larry Ellison’s vision of a competition which respects the Cup’s unique tradition whilst moving forward with the latest technology to attract an even wider audience,” commented Coutts.
Hey Russel - it's supposed to be about George Schuyler's vision - REMEMBER ?? Twat.
An 1:15pm
«I think it is time to let go and accept that the new defender is BMWOracle and that the new legitimate Callenger of Record is Mascalzone Latino.»
Yes, they are the legitimate Defender and Challenger! And they are doing worse than Alinghi and CNEV.
at 10:04 AM
Could you please provide some facts?
So far I can not see any wrong doing from BMWOracle. It is just a little more than six weeks since AC33 is completed. BMWOracle is openly talking with the COR and many of the existing teams seeking their input (but nothing has been finalised yet). So what is the problem and what are BMWOracle actually doing "worse than Alinghi"?
P.S. The only obvious problem some of you guys seem have is that your favorite team lost big time on and off the water and that you seem to have difficulties dealing with that fact.
P.S.S. IMO, the vast majority of comments in this thread are written by one (obviously pretty frustrated) individual. Why don't you have balls and sign your comments with your name?
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