Tuesday, November 23, 2010

Report: Three America's Cup World Series regattas planned in Palma de Mallorca

Update 4pm: We obtained more concrete details on the negotiations between the Chamber of Commerce in Palma and BMW Oracle. It appears that BMW Oracle will only offer one event in 2011 but the city's desire is to stage 3 events (one each year, from 2011 to 2013) in order to get a better return on their expenditure. The hosting fee is 5 million euros and covers all three events. As per the Chamber of Commerce, Palma can't afford to spend more money.

The regattas, if the two parties come into an agreement, would be held between the months of April and July. August is off-limits in Palma because that is when the island's premiere event, the Copa del Rey, takes place. Other calendar issues that have to be taken into consideration are the Palmavela regatta and the Easter holidays. Palma being a major tourist destination, there will certainly be a shortage of hotel rooms during that period.

Finally, it is quite probable the Real Club Nautico Palma is involved with the organization of the event. In addition to the cash payment, BMW Oracle, among other things, requires mooring space for 50 mega-yachts as well as 30,000 square meters of empty space for the race logistics.

With approximately seven months left until the curtain-raising event of the brand new America's Cup World Series, it is obvious BMW Oracle are busy meeting with cities around the world that are interested in eventually becoming hosts of one, or more, events.

If one is to believe the Spanish newspaper El Mundo, it now appears that Palma de Mallorca is one of the cities that has been approached by the holder of the America's Cup. According to the article that appeared in today's edition, Russell Coutts was in Palma a few days ago and met with the President of the local Chamber of Commerce, in order to negotiate an agreement on a number of America's Cup World Series events.

The article claims that Palma was offered the possibility of holding three events during the period from April to July in the years 2011, 2012 and 2013. In exchange, the Spanish city will have to pay Larry Ellison's team of total of 5 million euros in host city fees.

The author of the article considers this to be a surprisingly small amount, most probably due to the current economic crisis. In comparison, according to the article, the Louis Vuitton regatta in La Maddalena cost the local authorities 4 million euros and the regional government of Andalusia paid 1.8 million euros for the right to hold three Extreme Sailing events. These events being considerably less popular than an Americas Cup race, it seems that even the pinnacle regatta of the sport of sailing doesn't escape from the financial turmoil.

Finally, always according to the article, in addition to San Francisco and Palma, other cities that could stage America's Cup events are Newport, Venice and cities in Portugal, the UAE and Russia.

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At 2:04 PM, Anonymous Anonymous said...

if confirmed and that the 5 millions are cash, it is an excellent deal.

At 3:11 PM, Anonymous Anonymous said...

Makes the Extreme Sailing Series look great value for money, there must have been 80 or 90 thousand in Almeria this year and it was fantastic entertainment.No wonder Coutts tried to recruit Mark Turner

At 9:11 PM, Anonymous Anonymous said...

are you sure Almeria paid that much as a rights fee? may be it was part rights fee and part exploitation

At 8:01 AM, Anonymous Anonymous said...

30,000m2 is a lot of space for three teams

At 12:59 PM, Anonymous Anonymous said...

No one should trust Mr Oracle BMW Team

They sign an agreement with Valencia and the Spanish King Juan Carlos I that they will have the America's Cup in Valenica.

They also said that the race must be fair and not in catamarans

Before I trust in them, today I wish but I cannot.

And it's a pity!!!


At 1:15 PM, Anonymous Anonymous said...

"They sign an agreement with Valencia and the Spanish King Juan Carlos I that they will have the America's Cup in Valenica."


At 5:31 PM, Anonymous Anonymous said...

1:15 PM Anonymous,

Ok, there was not any signature. 'Just' a Ellison's commiment with Juan Carlos I. Who can trust Ellison Coutts Ehman?

At 9:02 PM, Blogger Norby said...

and do you know the exact terms of this "commitment"? maybe something like "we'll make our better efforts"...? uhmm.

At 7:55 AM, Anonymous Anonymous said...


I know what BOR told to Mayor Rita Barbera, I know LE was with Spanish King in Madris, I know what TE and RC said (just the half of the story) and also you can see part of the BOR's letter with Photoshop in a picture where Mayor Barbera showed to journalists... Too much

At 12:06 PM, Anonymous JamieF said...

7:55 AM annon

if you know all this, why don't you share it with us? Facts please and no more hearsay

At 12:45 PM, Blogger Norby said...

ok. but is it legally binding? otherwise it was "just" a "moral" commitment. do you agree?

At 1:27 PM, Anonymous Anonymous said...

The commitment was linked to not have any Spanish goberment supporting any team on the legal case. Valencia supported Alinghi, who knows and quite badly so no reason for BMW Oracle to keep the deal...

At 3:16 PM, Anonymous Anonymous said...

Norby, you are right!

It was a sort of "moral" commitment... but with the King of Spain!

It tells so about the spirit of BOR.

They made same type of moral commitment with the challengers that the race will be fair. lol.

BOR and Coutts never feel commited by what they say.

At 6:41 PM, Anonymous Anonymous said...

And why would the race not be fair??? Please have the courtesy to point out what exactly is so unfair.

At 10:37 PM, Anonymous Anonymous said...

They said IF Valencia can do again what they did for Alinghi.

Valencia has not the ability this time.

If San Fran cannot work then it will be Newport or San Diego.

At 2:09 AM, Anonymous Anonymous said...

Even it's moral agreement it's an agreement.

Any way I think Mr Oracle he is a great person.

I meet him one time and I think it's a good man.


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