Barcelona AC37

Believe what you want, but he definitely consulted Dunphy and Hamish Ross, as well as who ever it was (possibly LR) who spilled the beans to Dalts.
Zero f'ing way.  Dunphy didn't exist last summer when this blew up inside the NYYC and I can assure you that Culver has zero connections to Ross.  I believe Culver had some good intentions initially but then his ego got the best of him, he wanted Hutchinson and his friends out and Canfield/Buckley in and he faced the demise of trusting those two.  The Club has moved on from Culver. 

 

Gissie

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If the Kiwis defend AC37 then I am willing to bet that INEOS will stay as CoR to ensure the AC75 Class will be maintained
Considering it is a pledge all teams were forced to make to enter, why would anyone want to take you up on your silly bet.

Although I would laugh my tits off if Alinghi won, paid the fine and changed the boat back to something we could all understand.

 

Gissie

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Any winning team could change the boat for AC37, the clause is completely illegal! :)  
Not according to some of the more erudite posters on this site.

Dalton has found a way to break one of the basic concepts behind the cup, the choice of what to defend in. The excuse is because it isn't prohibited in the deed. Of course it wasn't thought necessary at the time because no one could envisage a big enough asshole getting involved.

Then along came big D.

 

dg_sailingfan

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Not according to some of the more erudite posters on this site.

Dalton has found a way to break one of the basic concepts behind the cup, the choice of what to defend in. The excuse is because it isn't prohibited in the deed. Of course it wasn't thought necessary at the time because no one could envisage a big enough asshole getting involved.

Then along came big D.
No, Dalton hasn't broken anything! It's time to get rid of those Traditions that the AC should be defended at home. EVEN the DoG needs some overhaul.

 

Gissie

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No, Dalton hasn't broken anything! It's time to get rid of those Traditions that the AC should be defended at home. EVEN the DoG needs some overhaul.
Really? It was the traditions that kept it going for over a hundred years. Now, you and your imbecilic mates want to make it just another regatta. One that will collapse under the weight of money and hubris. Your idiocy is a bigger threat than even TNZ to the future of the cup. For you it is all about your entertainment. Just a selfish asshole willing to prostitute the event for your pleasure.

The event needs to fade away for a decade or two, lost until some rich sailor calls up the pathetic poodle club that holds it and issues a challenge. This can't happen soon enough.

 

sunseeker

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No, Dalton hasn't broken anything! It's time to get rid of those Traditions that the AC should be defended at home. EVEN the DoG needs some overhaul.
Good idea. I suggest you go get a firm like White & Case (Ernesto’s first best lawyers) to do the required legal work to change the deed. Or get your friends at RNZYS to do the same. It probably won’t cost much, maybe as little as $5 million. 
 

Or, shut the fuck up.

 

JALhazmat

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why was it ETNZ didn’t  want any financial oversight again? ;-) 
 

Documentation with the heading "confidential", prepared by the organizers of the thirty-seventh edition of the Copa Americaand by the Barcelona Global business association, contradicts some of the figures that Ada Colau, Jaume Collboni and Pere Aragonès announced at a press conference on March 29 from the Port of Barcelona. The mayoress, the first deputy mayor and the president of the Generalitat assured that the maximum public contribution would be 40 million euros. On the other hand, according to the documents with the Barcelona Global seal and its Barcelona & Partners initiative –with the signature of its CEO Àngel Garcia–, as well as the organizer of Emirates Team New Zealand (TNZ), the contributions initial public administrations would be between 48 and 55 million euros. Only if the event generated a minimum income of 80 million euros, the administration would be able to recover part of the initial investment and would adjust to the 40 million announced. The remaining 50% of revenue - another 40 million - would be pocketed by the organizers.

In addition, the economic impact of advertising is far from that contained in the confidential documentation to which Directahas had access . Although the administrations have talked about a billion euros, the organization reduces it to a range of between 277 and 738 million. The impact is usually a calculation that focuses on estimating the effect of the project in terms of income, employment, or volume of economic activity that derives from it. In this case, some elements that are taken into account are the 941 million potential spectators during the fourteen weeks of the regatta (a figure achieved in the last edition) and the 2,500 people, mobilized by the five competing teams, which according to the The organization will live in the city for two years and could start arriving at the end of this month of April.

documents_americanscup_ladirecta_1.jpg


According to the documents, the initial contributions of the public administrations would be between 48 and 55 million euros| LA DIRECTA





Over fifty pages, economic, financial and logistical conditions for hosting the sailing competition in the city of Barcelona are detailed. Although the documentation is not dated, the part in Spanish signed by Barcelona Global - the association of companies, including Agbar, Grup Godó, CaixaBank, Telefónica and Damm, and which has acted as an intermediary with the administrations - it is located after December 10, 2021.

Clause to protect the private investor

A relevant condition for the hitherto unknown agreement is that the alleged benefits of the event would go preferentially to private investors. The documentation mentions a clause that would be "pending agreement with the administrations", but that would mean the "preferential and priority" cancellation of guarantees provided by private financiers through the first 25 million of revenue generated by the event. From then on, 50% of the revenue would go to wipe out government spending and 50% would go directly to the coffers of the organizers.


It mentions a clause that would be "pending agreement with the administrations", but that would mean the "preferential and priority" cancellation of the guarantees provided by private financiers through the first 25 million of revenue generated by the event



In addition, it should be noted that in relation to private investors, a protocol signed on March 24 by the Generalitat de Catalunya, Barcelona City Council, the Port Authority, the Tourism Consortium and Barcelona Global clarified that the latter entity would make “maximum efforts to obtain the subscription by private promoters of guarantees of up to 25 million euros”, a wording that does not contractually guarantee the private contribution, unlike the firm commitment of public money.

What the protocol does is adopt a commitment to declare the event "of exceptional public interest", providing it with the same tax regime as non-profit organizations. And specifies as necessary the specific fiscal measures "of temporary importation without VAT or import duties, of all equipment and goods directly related to the event, including boats and personal effects for use" .

Despite facilitating the protocol, the Generalitat de Catalunya, at the time of publishing this article, had not answered the questions of this medium in relation to the method of distribution of expenses and income.

documents_americanscup_ladirecta_3.jpg


A clause, "pending agreement with the administrations", would mean the "preferential and priority" cancellation of guarantees provided by private financiers through the first 25 million of revenue generated by the event | LA DIRECTA





The revenue projection includes 84 million in sponsorship, 250,000 euros in local television rights, 500,000 in ticket sales, 300,000 in merchandising, one million in tourist commissions, 2 million in accommodation or two more in entertainment events, among others.

 

Stingray~

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the 2,500 people, mobilized by the five competing teams, which according to the The organization will live in the city for two years and could start arriving at the end of this month of April.
yeah, right! interesting piece

other articles claim there are promises in the whatever-agreement that all support boats will be HSVs

 
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JALhazmat

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500 people per team, no wonder Grant needed more cash, his personnel bill just tripled, and that's being kind. 
 

Genuinely though what a fucking planet are they on suggesting that it’s 500 people per team are going to actually relocate,  500 team members across all the competing teams in New Zealand was more likely. 
 

What the protocol does is adopt a commitment to declare the event "of exceptional public interest", providing it with the same tax regime as non-profit organizations. And specifies as necessary the specific fiscal measures "of temporary importation without VAT or import duties, of all equipment and goods directly related to the event, including boats and personal effects for use" .
This is nice too.. no one likes bothering with things like paying  tax do they 

 


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