Valencia Americas Cup Contract ‘Exorbitant’

The America’s Cup continues to be an embarrasment for the sport of sailing. New reports suggest that the Spanish Government will not back Valencia, Alinghi’s chosen venue for cup activities, as the price and conditions of the contract are oppressive.

The fight is as much a feud between the city of Valencia and other governments in Spain, but adds to the list of squabbles surrounding the Cup that tarnish its position at the pinnacle of the sport of yacht racing.

Valencia Life Network writer, Peter Gooch, writing for Scuttlebutt reports:

The Socialist Spanish Government has now refused to participate in the finance of the pre-regattas for the next Americas Cup, stating that it considered the demands made by Americas Cup Management to be exorbitant, after it requested twenty million Euros from the 2007 Valencia Consortium, without taking into consideration the decision of the New York Court.

Elena Salgado, the Minister for Public Administrations, says that the contract as presented by the Swiss consortium as being definitive was exorbitant on three counts: the amount of money being demanded, the refusal to allow BMW Oracle Racing to compete and the construction of five new bases in Valencia Port.

In the event of Golden Gate Yacht Club/BMW Oracle Racing winning the case, the 33rd edition of the Americas Cup would be limited to a two-craft race between Alinghi and BMW Oracle using catamarans at a location still to be decided. The regattas could still take place in Valencia, but under these conditions, would have no part in the outcome of the 33rd Americas Cup.

The full article can be read here.