dg_sailingfan

MALTA Challenge...all but confirmed

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KUDOS to Tom Ehman from Sailing Illustrated who had the SCOOP on this in his Facebook Live last week.

Malta's Prime Minister Joseph Muscat that the Royal Malta Yacht Club challenged on behalf on Altus Challenge (Team Name) and have been accepted by the RNZYS/ETNZ....

 

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12 minutes ago, dg_sailingfan said:

KUDOS to Tom Ehman from Sailing Illustrated who had the SCOOP on this in his Facebook Live last week.

Malta's Prime Minister Joseph Muscat that the Royal Malta Yacht Club challenged on behalf on Altus Challenge (Team Name) and have been accepted by the RNZYS/ETNZ....

 

https://www.timesofmalta.com/mobile/articles/view/20181206/local/maltese-sailing-team-to-challenge-36th-americas-cup.696072

 

 

A Maltese yacht will for the first time ever take part in the prestigious America’s Cup sailing race in 2020/2021.

The challenge was on Thursday accepted by the Royal New Zealand Yacht Squadron, the current title holder.

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7 minutes ago, Stingray~ said:

They will present their Team in the 1st Quarter of 2019 so it looks like this might have been the Team where Sail World NZ signed a Non-Disclosure Agreement until they would announce themselves.

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Yes, I'm a bit happy about it, but hell, there are numerous other ways to spend the money and really help that country.
Nevertheless, I have a new favorite team :wub:

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7 minutes ago, Rennmaus said:

Yes, I'm a bit happy about it, but hell, there are numerous other ways to spend the money and really help that country.
Nevertheless, I have a new favorite team :wub:

Well, they apparently want to do the next THREE AC Cycles so to speak. Only one boat for this time around though. We'll see how far they will get ;)

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48 minutes ago, Rennmaus said:

Yes, I'm a bit happy about it, but hell, there are numerous other ways to spend the money and really help that country.
Nevertheless, I have a new favorite team :wub:

Really, I thought you were die-hard ETNZ? What's changed your mind?

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Just now, dogwatch said:

Really, I thought you were die-hard ETNZ? What's changed your mind?

I regard Malta as my second home. ETNZ is cool too, tho.

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So this seems to be fallout from the mooted Sardinian challenge. Dated from August:

http://www.ansa.it/toscana/notizie/2018/08/13/coppa-america-cataldi-con-adelasia_861c3e52-1efe-4853-a06e-fbff218c13e6.html

 

(ANSA) - CAGLIARI, 13 AGO - Pasquale Cataldi, as CEO of the international company Altus srl, invests as a sponsor of the Sardinian boat Adelasia who wants to participate in the 36th America's Cup. The project has already been illustrated to the Region, and now purchases the first important fans and financiers: Cataldi, a Florentine businessman, is also Chairman of the Board of Directors of the Maltese fund BitBull Fund. Now his entry into the Torres Adelasia Foundation is official. Objective: to support the boat as a title sponsor on the way to the event that will be held in the waters of Auckland in 2021. 
"Adelasia - explains Cataldi - represents the great challenge that promotes many of the values that have inspired my human and professional growth, as the synergistic teamwork, I like to contribute to a project that is an opportunity for growth for designers, shipyards and sailors because I believe in the importance of sport for individual and social development ". 

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AC press release just in:
 

Malta Altus Challenge is the new entry of the 36th America’s Cup

 

7th December 2018

One week since the close of the 36th America’s Cup entry period, the Defender and the Royal New Zealand Yacht Squadron have completed the required checks and accepted the Royal Malta Yacht Club challenge for the 36th America’s Cup.

The Malta Altus Challenge becomes the fourth Challenger for the America’s Cup in 2021, together with the Challenger of Record Luna Rossa (ITA), American Magic (USA) and INEOS Team UK (GBR).   

The Royal Malta Yacht Club’s Notice of Challenge was the first of the eight late entries to be received by the Royal New Zealand Yacht Squadron within  the late entry deadline - 5.00 pm of the 30th November NZT- and therefore the first to be processed.

It’s the first time, in 167 years history of the trophy, that Malta challenges for the America’s Cup. Despite being one of the smallest countries in Europe - just 316 km² (122 sq mi) – Malta’s strategic position in the Mediterranean Sea has always made it a hub of maritime activity and a port of crucial importance throughout history.

The Royal Malta Yacht Club whose origins can be traced back to 1835, predating the America’s Cup’s existence, is indeed internationally renowned as the organizer of the 50 year old Middle Sea Race, the 606 miles regatta starting from La Valletta and sailed anti-clockwise around Sicily.

m759_Pasquale-Cataldi.jpg
 

The Team Principal of the Malta Altus Challenge is Pasquale Cataldi, an Italian born businessman who is based in Malta, founder and CEO of the multinational real estate and development company, Altus. This is Cataldi’s first involvement in the America’s Cup but his intention is to pursue a long-term challenge:

“Our goal is to do three editions of the America's Cup. If you want to build a strong team, then you need to commit to three America's Cup cycles. I think everyone in this edition is in it for the long-term. We have a new class, so the game is level for everybody, and the differences are not so much,” explained Cataldi.

Grant Dalton, CEO of the Defender Emirates Team New Zealand said: “ We are happy to welcome the Royal Malta Yacht Club and the Malta Altus Challenge to the 36th America’s Cup. After New Zealand, they are now the smallest country to challenge for the America’s Cup. We know what it is like to be a small team facing long odds in taking on one of the biggest challenges in sport and we wish them the best.”

The Malta Altus Challenge will be led by experienced America’s Cup personnel and aims to develop local talent in Malta in the fields of design, engineering and boatbuilding.

m761_crop999002_800x800_proportional_1544120706FC21.jpg
 
m763_crop999002_800x800_proportional_1544121500C025.png

“This is a massive opportunity for our club to promote Malta and the skills that exist in the marine industry on a global stage,” said Godwin Zammit, the Commodore of the Royal Malta Yacht Club. 

“On behalf of the Club, I’d like to thank the Royal New Zealand Yacht Squadron and Emirates Team New Zealand for their assistance throughout the challenge process and we can’t wait to get down there and start racing in December 2020.”

The full team and further information regarding the challenge will be announced in Malta in the first quarter of 2019.

In the next few weeks other updates regarding the Notices of Challenge, received within the deadline, will be released. 

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19 minutes ago, Stingray~ said:

More, and a mention of Hamish Ross

https://www.sail-world.com/news/212845/

Here is the Official Twitter Feed I suspect by the Malta Altus Challenge

https://twitter.com/TeamMaltaAltus

I'm curious though: Even with the Basic Design Package from ETNZ are they really able to put a boat together (AC 75) by October 2019 for the Start of the ACWS?

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18 minutes ago, Rennmaus said:

Oh, my special friend :wacko:.

Wow, maybe we will get an ACWS, orwhateveritiscalledseries, event in Malta.

doubt it, from the press release about the possible teams they mention the fact that some teams have made having an ACWS event in their back door a condition of entry.  If this team has already been announced its not one of those teams.  I don't see RNZYS sacrificing a potential challenge over that.

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3 minutes ago, SCARECROW said:

doubt it, from the press release about the possible teams they mention the fact that some teams have made having an ACWS event in their back door a condition of entry.  If this team has already been announced its not one of those teams.  I don't see RNZYS sacrificing a potential challenge over that.

I think you're right on that. Malta Altus was obviously the "One Unconditional Challenger" capable of being accepted immediatedly as reported by the RNZYS/ETNZ Press Release last week.

That being said: Where will the 2nd ACWS Event be held in 2019? We know Cagliari ;), the other Venue for the 2nd Event we don't know. These AC 75's are big boats. Ya can't ship them around like you could with the small AC 45 F's that we had during 2015/16 so I am guessing the 2nd Event will be somewhere in Europe as well.

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3 minutes ago, Rennmaus said:

Cagliari is just around the corner from Valletta, it would make a good venue for the 2nd event 2019.

+1

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10 minutes ago, Rennmaus said:

Cagliari is just around the corner from Valletta; he latter would make a good venue for the 2nd event in 2019.

+ 1. I agree on that. My concern is more if Valletta has the Infrastructure to host such an Event? Valletta is a pretty small Town, no?

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Oh, puhleeeease. We will need a big supply of eggs to cover all the faces who think this challenge is real. 

@dogwatch is on the right track

2 hours ago, dogwatch said:

So this seems to be fallout from the mooted Sardinian challenge. Dated from August:

http://www.ansa.it/toscana/notizie/2018/08/13/coppa-america-cataldi-con-adelasia_861c3e52-1efe-4853-a06e-fbff218c13e6.html

 

(ANSA) - CAGLIARI, 13 AGO - Pasquale Cataldi, as CEO of the international company Altus srl, invests as a sponsor of the Sardinian boat Adelasia who wants to participate in the 36th America's Cup. The project has already been illustrated to the Region, and now purchases the first important fans and financiers: Cataldi, a Florentine businessman, is also Chairman of the Board of Directors of the Maltese fund BitBull Fund. Now his entry into the Torres Adelasia Foundation is official. Objective: to support the boat as a title sponsor on the way to the event that will be held in the waters of Auckland in 2021. 
"Adelasia - explains Cataldi - represents the great challenge that promotes many of the values that have inspired my human and professional growth, as the synergistic teamwork, I like to contribute to a project that is an opportunity for growth for designers, shipyards and sailors because I believe in the importance of sport for individual and social development ". 

Altus has projects but does not seem to have any properties.

Look at the pretty renderings of this project:
https://www.altus-lifestyle.com/marina-district

And read about it on the "Swamp Lot" website:
http://swamplot.com/how-about-a-300-acre-marina-and-skyscraper-complex-off-kingwoods-woodland-hills-dr/2018-05-08/
Then look at their other major US project, Coming Soon in Summer 2018:
https://msrhouston.com/resort/
Obviously they understand that the America's Cup is the F1 of sailing.
https://msrhouston.com/karting/holiday-specials/
image.png.8f5da75c85e736f71adfdeaa9aa2c489.png

 

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1 hour ago, YvesKlein said:

Oh, puhleeeease. We will need a big supply of eggs to cover all the faces who think this challenge is real.

Thats a pretty expensive prank given the entry appears to have been accepted and therefore presumably paid for and the entry fee and performance bonds are $1,000,000 each...

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8 hours ago, Stingray~ said:

More, and a mention of Hamish Ross

https://www.sail-world.com/news/212845/

Good piece and confirming the link to the "Sardinia challenge" which may or may not be kaput. But this, oh dear.

 

Malta is promoting itself as "The Blockchain Island" and in early November hosted the first of a series of Blockchain Summits which attracted just under 6,000 delegates and 300 exhibitors centred around the Blockchain software technology.

https://www.coindesk.com/price/bitcoin

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7 hours ago, Colomba said:

Will they put foils on the Falcon?

Something something darkside doom & unmitigated failure...

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I find it significant that it seems to have been first announced by the Prime Minister and not the yacht club.

Renn, if you've spent any time on this benighted isle you know what I mean.

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9 hours ago, dg_sailingfan said:

+ 1. I agree on that. My concern is more if Valletta has the Infrastructure to host such an Event? Valletta is a pretty small Town, no?

+2

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" MALTA"   WTF . I suppose with the scale of AC budgets a little money laundering could go unnoticed ?

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13 minutes ago, Justaquickone said:

" MALTA"   WTF . I suppose with the scale of AC budgets a little money laundering could go unnoticed ?

My thoughts entirely....

Ive been going to Malta for the middle sea race for many years and I cannot even start to imagine how this proposal is coming together without any serious fraudulent activity...

Also, is this the new Softbank for Luna Rossa?!

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17 hours ago, Stingray~ said:

 

 

IMG_3978-copy-1.jpeg

 

OMFG. The archetypal Italian con man. Would you buy a used AC75 from this guy?

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14 hours ago, PuckSoppet said:

Rumblings of a few ex/current Artemis guys involved in this challenge too

 

Iain Percy reportedly vanished from Nassau SSL event

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18 hours ago, dg_sailingfan said:

+ 1. I agree on that. My concern is more if Valletta has the Infrastructure to host such an Event? Valletta is a pretty small Town, no?

 

8 hours ago, paperinick said:

+2

Valletta (Ta‘ Xbiex actually) hosts the annual Rolex Middle Sea Race. Valletta hosted the RC44 twice or thrice, and these were great events. Malta easily has that capacity. And if not… they could cover Armier Bay or the whole of Marfa Ridge in concrete for bases and more faceless apartment blocks.
 

9 hours ago, avo2 said:

I find it significant that it seems to have been first announced by the Prime Minister and not the yacht club.

Renn, if you've spent any time on this benighted isle you know what I mean.

 

6 hours ago, Justaquickone said:

" MALTA"   WTF . I suppose with the scale of AC budgets a little money laundering could go unnoticed ?

I don’t think that this archipelago is benighted (but I also may get the wrong meaning out of this word). Malta is home for over 5000 years of history, jam-packed with culture, the people are lovely and the food delicious. But man, it’s a corrupt system over there, what a shame. Every paradise seems to have its dark sides too.

Is this challenge real? Probably, with enough gaming, betting, scam and real estate "Italian family" money in the background.

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6 minutes ago, dg_sailingfan said:

Renny,

My money is on Naples or Palermo in Sicily hosting the 2nd ACWS next 2019 should we get one. What do you think?

Dunno. I just wanted to say that the "Valletta region", mostly Ta' Xbiex, has the capability to host an event with many and large sailing boats. 
The RMYC - together with Yachting Malta and Yachting Events - is a good YC, well-versed in organizing large sailing events. 

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49 minutes ago, Rennmaus said:

 

Malta is home for over 5000 years of history, jam-packed with culture, the people are lovely and the food delicious. But man, it’s a corrupt system over there, what a shame. Every paradise seems to have its dark sides too.

Is this challenge real? Probably, with enough gaming, betting, scam and real estate "Italian family" money in the background.

I admit I know nothing about Malta except what I read on SA.  But sounds like a perfect opportunity for conspiracy theories and intrigue speculations over the next 3 Cup cycles!

 

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2 hours ago, Xlot said:

 

Iain Percy reportedly vanished from Nassau SSL event

La Stampa says Iain Murray could also be on board. 

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Star Sailor League commentators just said Iain Percy ran off for two days to go to Malta and will be team leader... 

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As it is already nearly 3 months into the "qualifying" residency period, overseas sailors are going to need to spend a higher percentage of the next 21 month stuck in Malta. They have basically already burnt 3 months of their "free" time out of country.

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3 hours ago, A Class Sailor said:

As it is already nearly 3 months into the "qualifying" residency period, overseas sailors are going to need to spend a higher percentage of the next 21 month stuck in Malta. They have basically already burnt 3 months of their "free" time out of country.

Stuck on a gorgeous island in the middle of the med, sounds like absolute hell!  The things these guys have to put their bodies through to qualify for the America's Cup! :D

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On 12/7/2018 at 5:34 PM, Boybland said:

Stuck on a gorgeous island in the middle of the med, sounds like absolute hell!  The things these guys have to put their bodies through to qualify for the America's Cup! :D

I’m laughing my ass off while completely agreeing!  It must be miserable. 

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4 hours ago, Monkey said:

I’m laughing my ass off while completely agreeing!  It must be miserable. 

Absolutely horrible, my thought too.

But the real content of above post was probably that for any team entering now, already 3 months of "free roaming" time has passed already without purpose.

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Still can’t believe this is real - but as intellectual speculation, they’d obviously have to get (buy?) the ETNZ design package. Except that to satisly CIC (no bow outer skins this time) the only way to manage is having Persico ship down LR’s boat 1 mold and a laminating crew ...

And Iain Percy back in Nassau, should move to Pensacola to beg for a ride on the Mule

 

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2 minutes ago, Xlot said:

Still can’t believe this is real - but as intellectual speculation, they’d obviously have to get (buy?) the ETNZ design package. Except that to satisly CIC (no bow outer skins this time) the only way to manage is having Persico ship down LR’s boat 1 mold and a laminating crew ...

 

I want so much that it's true, although I can't believe it myself.
Do you really think (or even know) that Malta hasn't the required facilities to satisfy CiC for the hull? They have super yacht building facilities on the island...

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Be careful asking too many questions in Malta!

https://www.theguardian.com/world/2018/apr/17/malta-protecting-mastermind-journalist-daphne-caruana-galizia-says-husband

Quote

The family of the murdered anti-corruption journalist Daphne Caruana Galizia believe that three men awaiting trial for the crime were acting on orders from inside Malta, and have expressed concern that elements within the government may be protecting whoever commissioned the killing.

In his first full interview since his wife’s death in a car bombing six months ago, Peter Caruana Galizia claimed political interests were blocking the police investigation and said he feared the mastermind might never be brought to justice.

 

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No direct info whatsoever, but never heard of advanced composite lamination locally. Yacht fitting yes, but it’s a different story. So, the alternatives are either have the hull plug and mold made somewhere in Europe, or fly up the ETNZ boat 1 mold, or use the LR mold

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Surely these new teams will be very closely aligned with an existing team.  Given the level of experiance with this design concept it would be a big advantage if you can legally build 3-4 boats instead of 1-2

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59 minutes ago, mad said:

I know. It's enormously enraging and saddening. I'm not blind for the disgusting shortcomings of this nation (I could list a lot more than that), but I love her nevertheless. 
Back to the AC: At least (unfortunately no real comfort) the other challenges are also made possible by dubious money...

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Quote

A Maltese bank at the heart of a money-laundering investigation has had its licence withdrawn by the European Central Bank.

Pilatus Bank, which opened four years ago, was officially closed down several months after its Iranian chairman and owner, Ali Sadr Hasheminejad, was charged in the US in connection with money-laundering and fraud.

The bank had also been accused of processing corrupt payments to Maltese officials by the investigative journalist Daphne Caruana Galizia, who was killed last year by a car bomb.

The Malta Financial Services Authority (MFSA), which regulates the country’s banking industry and granted Pilatus a licence in 2014, said the ECB had acted on its request to close the bank.

https://www.theguardian.com/world/2018/nov/05/pilatus-bank-malta-european-banking-licence-withdrawn

 

I’ll leave it at that  

 

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18 minutes ago, Rennmaus said:

At least (unfortunately no real comfort) the other challenges are also made possible by dubious money...

There is very little real money in the world that doesn’t have a dubious history.  The question is just if whether the current source is dubious of if it goes back a few generations.

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7 minutes ago, SCARECROW said:

There is very little real money in the world that doesn’t have a dubious history.  The question is just if whether the current source is dubious of if it goes back a few generations.

PA stuff, and I disagree slightly. If evil, inherited money isn't used to do good, it stays evil (very, very simplified, I know, but more detail does not belong in this forum).

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1 hour ago, Rennmaus said:

PA stuff, and I disagree slightly. If evil, inherited money isn't used to do good, it stays evil (very, very simplified, I know, but more detail does not belong in this forum).

In law there is the "fruit of the poisonous tree" theory/principle - if it has an evil origin, it will be contaminated forever, no matter what.

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3 hours ago, mad said:

Be careful asking too many questions in Malta!

The first rule of Malta is, you don't talk about Malta?

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On 12/9/2018 at 8:11 PM, SCARECROW said:

There is very little real money in the world that doesn’t have a dubious history.  The question is just if whether the current source is dubious of if it goes back a few generations.

I don't care if the money has a dubious history. The important question:  is there enough of it?

In France we say "il pete plus haut que son cul."  I believe Texans translate that into "All hat and no cattle." He does claim two projects in Houston after all.

None (as in "not a single one") of Altus's projects in Houston or Mexico has moved past renderings.
http://www.altusfirenze.com/

Altus's events? One cocktail party 17 months ago: https://www.altus-lifestyle.com/eventi

His cryptocurrency fund?  I'm rushing to get my €120K, minimum entry investment, to him. 
http://bitbull.fund/

His LinkedIn page? Looks like a real estate agent who's moved into cryptocurrency, don't you think?
https://www.linkedin.com/in/ale-p-cataldi-8a050140/

Gladwell says he owned a Formula E team. I can't find any evidence if that is true or false, but I'm still checking...  Anyone else know about this?

Reminds me of the summer of 2011:  Aleph, Greencom, China Team, Energy Team, and my favorite: Venezia Challenge.
https://www.charterworld.com/news/34th-americas-cup-venezia-challenge-official-challenger

Is there no one at RNZYS or ETNZ or in the Kiwi media who can spell d-u-e  d-i-l-i-g-e-n-c-e     or    f-a-c-t c-h-e-c-k-i-n-g    ?
 

image.png.c0d0ec6f3a79c2a16a9591322d5548ac.png   

More good reporting from Gladwell: 
https://www.sail-world.com/NZ/34th-Americas-Cup--Venezia-Challenge-welcomes-Torvar-Mirsky-on-board/-84532?source=google.ch

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