This time I like Teleftai, but where will the successor race? Photo / Chris Newey, www.photosport.nz
Whether Te Leftai will win the America’s Cup is left to Herald’s sailing expert, Professor Mark Orams of AUT. He says Te Rehutai is his favorite.
That is, Royal New Zealand
The Yacht Squadron (YS) may be about two weeks away, whether it’s an institution that deserves its name, or just a fig leaf for foreign commercial interests.
In Wellington, Prime Minister Jacinda Ardern, Minister of Finance and Sports Grant Robertson, and Minister of Economic Development Stuart Nash have also specifically accepted the Cup as an integral part of New Zealand’s economic, technological and cultural story, and generally There are two weeks to settle whether to sail. Dismiss it as a lazy indulgence for the rich.
More personally, Grant Dalton, CEO of Emirates Team New Zealand, faces the question of what his sailing life is for.
About 1.67 million New Zealanders participate in marine sports, and more New Zealanders than All Blacks watch Team New Zealand on television.
The country’s unique relationship with the America’s Cup dates back to the summer of KZ7 in 1986/87. This laid the foundation for a series of great New Zealand yacht victories at all major events.
It has also humbled the United States, the most technologically advanced country in history, and built New Zealand’s marine industry to sell high-value products accordingly.
New Zealand’s financial and emotional investment in the Cup, and a clear return of foreign currency and national pride, revealed Herald that Team New Zealand’s management is shopping for the next event at an overseas venue. Behind the shock of time.
Despite being violated by the Society Tenotic de Geneve and the Golden Gate Yacht Club, the envisioned rule was that you had to build a boat and win to host the America’s Cup. Like Ranfurly Shield, hosting was a real award.
Ardern, Robertson, Nash, and the Ministry of Business Innovation Employment have revealed a foreign marketing process revealed by Herald, despite taxpayers spending $ 136 million on cup-related infrastructure costs for the 2020/21 event. I didn’t know about.
Similarly, PhilGoff’s Auckland Council was not invited to participate, despite investing $ 113 million in payer funding for infrastructure and other costs in 2020/21.
The Team New Zealand move was clearly news for members of YS, the legitimate owner of the cup. Even if the Team New Zealand pitch document claims to be “a new advocate and rights owner of the event and essentially a key administrator,” and decision makers on all aspects of the event. “.
Ardern, Robertson, Nash and Goff are either pressured Dalton to use foreign bids to increase cash, or at a $ 80 million hosting fee previously offered by Abu Dhabi and Sochi. You might want to guess if your vision is to take the cup offshore. ..
In any case, any negotiator will want to gain some leverage.
Dalton correctly argues that there is a risk of repeating the 2000s when foreign millionaires provided undeniable money to members of the winning Team New Zealand.
However, Team New Zealand was inaccessible for at least three months, even if another venue actually offered a $ 80 million hosting fee during the pandemic. The contract requires that you first negotiate in good faith with the Government of Ardern.
Meanwhile, the risk of poaching that Dalton drives him remains serious.
But that also means that for at least three months, Robertson’s is the only large checkbook that Dalton can realistically access. Sports enthusiast finance ministers are almost certain to follow Bill English and Steven Joyce and immediately offer $ 5 million, or perhaps a little more, to maintain their talents, but there are conditions such as location. ..
Taxpayer checkbooks are not Robertson’s only leverage.
The exact legal relationship between YS, Team New Zealand and the America’s Cup event is unclear, but one thing is indisputable. The America’s Cup governor is the New York Supreme Court, and the only rule it cares about is the 1857 Gift Certificate.
The certificate is clear. “It is clearly understood that the cup is the property of the club, is subject to the provisions of this certificate and is not the property of the owner of the ship that won the match.”
If YS and Team New Zealand clash in a New York court, both know that the squadron will win. If you choose, YS can confidently claim its rights.
As the Cup host YS approaches the government, which hosts the only short-term checkbook, Dalton has nowhere to go.
If they decide that Team New Zealand will not negotiate in good faith, there are additional options.
Beyond the defense club, the only party that the certificate recognizes is the yacht club in another country that first filed a valid objection and passed certain tests.
After Michael Fay’s Surprise Challenge in 1987, both sides of the America’s Cup match will arrange a priority challenger to hand over the necessary paperwork in case the boat wins.
Team New Zealand’s management, who lost their relationship with the Italians, is clearly talking to the Royal Yacht Squadron in the United Kingdom. However, under this certificate, there is no reason why YS, for example, the Royal Perth Yacht Club, could not arrange to hand over the documents to its Admiral the moment Teleftai crossed the line. All decisions regarding the next regatta will be negotiated between YS and Royal Perth.
This is not necessary. Dalton must know that he is at risk of a public relations blunder.
Hopefully, he knows that his fate isn’t the villain who sold a New Zealand cup for thirty silver coins. Instead, the toughest of all hardmen on international yachts is the new to bring the cup home in 2017, hold it in 2021, work with the government and YS to bring Team New Zealand together and replace Emirates. We handed the entire structure to the next generation of Kiwi sailors, worthy of the hero who found the sponsor, and celebrated with all of us when Te Rehutai 2 succeeded in defending the Cup in Auckland in 2023.
–Matthew Hooton is a public relations consultant based in Auckland.
Matthew Houton: America’s Cup-Why Team NZ Doesn’t Hold All Cards After 2023
SourceMatthew Houton: America’s Cup-Why Team NZ Doesn’t Hold All Cards After 2023