America's Cup Protocol changes after Competitor Forum
[Source: America's Cup] Changes will further reduce costs, encouraging teams to focus their investments on the water
Several cost-reducing amendments to the America’s Cup rules have been adopted, following recommendations from the Competitor Forum, as well as prospective teams.
To maintain an open dialogue with current and potential teams, America’s Cup Race Management (ACRM) has hosted two briefings to gain insight into the needs of teams. Further discussions between ACRM and the Competitor Forum have resulted in amendments to the Rules that will reduce costs for participants.
“These changes are designed to allow the teams put their initial investments into building their teams and boats,” said Iain Murray, CEO, America’s Cup Race Management (ACRM) and Regatta Director for the 34th America’s Cup. “We are here to help the teams and to ensure that every dollar will be well spent.”
Key points of the Rule Amendments
- Reduce entry fee by USD1.2million and bond requirements by USD2million
- Increase the equipment that ACRM will ship for Competitors to America’s Cup World Series venues
- Give Competitors an additional three months to build their first AC72
- Provide Competitors two additional months with common AC72 design team
Details of the Rule changes were revealed by Iain Murray and Richard Worth, the Chairman of the America’s Cup Event Authority, as they participated in a panel discussion at the World Yacht Racing Forum on Wednesday afternoon in Portugal.