34th AC- the challengers-
from Scuttlebutt tonight:
FINANCIAL HURDLES MAY THIN THE HERD
(May 10, 2011) - The 34th America's Cup has 14 entries as of today, with
one of the undisclosed challenge entries filed by the March 31 deadline
being declined by the Golden Gate Yacht Club.
The process is now underway to vet the $200,000 Performance Bond
submissions, which were required of each team to post by April 30th. How
many of the 14 entrants have made this submission? "An announcement will be
made in due course about the teams which have successfully met the bond
requirements," explained Stephanie Martin, Chief Communications Officer for
the AC Event Authority. Here is the current count:
Defender - 1
Oracle Racing, Golden Gate Yacht Club (USA)
Challenger - 13
Aleph-Equipe de France, Aleph Yacht Club (FRA)
Artemis Racing, Kungliga Svenska Segal Sallskapet (SWE)
China Team, Mei Fan Yacht Club (CHN)
Emirates Team New Zealand, Royal New Zealand Yacht Squadron (NZL)
Energy Challenge, Yacht Club de France (FRA)
Mascalzone Latino, Club Nautico di Roma (ITA)
Team Australia, Multihull Yacht Club of Queensland (AUS)
Venezia Challenge, Club Canottieri Roggero di Lauria (ITA)
White Tiger Challenge, Sail Korea Yacht Club (ROK)
An additional four challenge entries remain confirmed but unidentified.
There are more financial hurdles that may thin the herd. An additional
$100,000 Entry Fee is due by each team on June 1st. And for any team not
participating in the first event of the America's Cup World Series in
Cascais, Portugal on August 6-14, there is a forfeiture of $150,000 of
their Performance Bond. And to participate in the ACWS you need to have one
million dollars (plus GST) to buy an AC45. The four teams that have
purchased and are sailing their AC45s are:
Artemis Racing, Kungliga Svenska Segal Sallskapet (SWE)
China Team, Mei Fan Yacht Club (CHN)
Emirates Team New Zealand, Royal New Zealand Yacht Squadron (NZL)
Oracle Racing, Golden Gate Yacht Club (USA)
Standing by for the next entry update. As Kenny Rogers said in his song
'The Gambler', "You got to know when to hold 'em, know when to fold 'em."