America's Cup Protocol changes after Competitor Forum

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- 34th America's Cup Protocol - Amendment 3

[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.

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.

International Jury appointed for the 34th America's Cup

[Source: America’s Cup Race Management] America’s Cup Race Management (ACRM), the independent race organizer for the 34th America’s Cup, welcomed the appointment today of the International Jury by the International Sailing Federation (ISAF).

The International Jury Chairman is David Tillett (AUS). Jury members: Bryan Willis (GBR), Graham McKenzie (NZL), John Doerr (GBR) and Josje Hofland (NED).

This is the Jury that presided over the 33rd America’s Cup in Valencia, Spain earlier this year. The appointments were made by ISAF in consultation with ACRM.

The Protocol governing the 34th America’s Cup specifies that the Jury will handle all disputes that may arise in this Cup cycle, including the World Series events starting in 2011 and concluding with the America’s Cup Match in 2013.

“This Jury represents depth of experience and a track record for a fair interpretation of the rules,“ said Regatta Director Iain Murray. “We thank ISAF for their support in appointing this world-class Jury that will independently arbitrate the 34th America’s Cup.”

Memorandum for prospective 34th America's Cup competitors

Related Documents

GGYC Trustee Memo No. 1

The Golden Gate Yacht Club published yesterday a memorandum that provides details for filing a Notice of Challenge or Application of Defense in accordance with the America’s Cup Deed of Gift (“Deed”) and the Protocol Governing the 34th America’s Cup (“Protocol”).

There isn't anything extraordinary in that memo, merely formalities, but it does state that GGYC will publicly announce only that it has accepted a challenge or a defense candidate and the date of acceptance. They will not announce other particulars unless the team asks them to, in which case they will have to make their own announcement.

The logic behind this approach is for the organization not to steal the spotlight with each announcement but leave it to the teams to grab the attention of the world media. Let's hope this is a first sign that all involved in the 34th America's Cup, from GGYC to the ACEA and ACRM, will be much more thoughtful toward, and supportive of, the teams.

WSTA appoints two to board of directors of America's Cup Race Management

[Source: World Sailing Teams Association] The World Sailing Teams Association (WSTA) has appointed two directors to the board of America's Cup Race Management (ACRM) as per the Protocol for the 34th America's Cup.

Mikhail Tuzov (RUS) and James Farmer (NZL) will join the five-person board with immediate effect, their names having been put forward for consideration by the Synergy Russian Sailing Team and Emirates Team New Zealand respectively. The WSTA voted this week on their nomination to the ACRM board.

“Having representation on the board of ACRM is an important check and balance on the overall fairness of the next America’s Cup for all teams,” said Paul Cayard, the chairman of the WSTA. “We are confident our nominees will greatly contribute to the execution of the vision for AC 34 while representing the interests of the challengers in the management of the event.”

ACRM is the body charged in the Protocol with providing “neutral, independent, professional, and fair race management” for the next edition of the America’s Cup.

The board of ACRM consists of five people – the recently appointed Regatta Director Iain Murray (AUS), as well as one representative from the Defender, one from the Challenger of Record, and the two appointed by WSTA.

Mikhail Tuzov is a businessman, engineer and investor in Russia who was among the founders of the Synergy Russian Sailing Team, which has successfully competed in the TP52 Class on the Audi MedCup circuit and in the Louis Vuitton Trophy.

James Farmer is a Barrister and Queen’s Counsel in New Zealand and has been a Director and Trustee with Emirates Team New Zealand since 2004. He was the team’s representative on the Challenger Commission during the 32nd America’s Cup.

“ACRM welcomes the appointments of James Farmer and Mikhail Tuzov as WSTA’s board representatives to ACRM,” said Iain Murray, ACRM CEO and Regatta Director of the 34th America’s Cup. “This brings us one step closer to formalizing ACRM and moving forward on preparations for running the 34th America’s Cup regatta. The Board will play an important part in assuring a fair competition for all.”

As per the Protocol, the two members nominated by WSTA will have their positions on the board confirmed by a majority vote of the Competitors Forum following the close of entries for the Cup early next year.

The WSTA was created in the spring of 2009 to promote the interests of the some of the top sailing teams in the world. In partnership with Louis Vuitton, the WSTA has organised three Louis Vuitton Trophy events, with a fourth and final regatta scheduled in Dubai next month.