Fair enough. But I'm not sure whether the $50-mil for an Aussie Challenge under the London Agreement was even realistic, given that the LA format would only have been possible had the cheaters defended successfully in AC35 - or one of their sock puppets won. Had the cheaters defended, I could easily see Slingsby staying with the cheaters - perhaps even taking over from Jimmy.
On top of this, the London Agreement format meant AC36 in 2019, which would have left an Aussie Challenge struggling to get an AC50 design up and manufactured in 12 months. Or was the expectation that the cheaters would provide their designs to an Aussie Challenge?
I'm not buying the $50 war chest you keep bringing up in your constant blaming of ETNZ for the costs of challenging in AC36.