GGYC Issues Statement: Ellison and Bertarelli in Talks.

The Golden Gate Yacht Club and BMW ORACLE have released a statement, 5 days after the New York court of appeal awarded the title of ‘Challenger of Record’ in their favour. The team principals; Larry Ellison and Ernesto Bertarelli are talking to each other, trying to come to a deal that will work for everyone. The statement reads:

The Golden Gate Yacht Club and its team, BMW ORACLE Racing, remain committed to negotiate with the Defender, Société Nautique de Genève/Alinghi, a conventional mutual consent protocol for the next America’s Cup that would involve all teams.

This follows the April 2 decision of the New York State Court of Appeals confirming the Golden Gate Yacht Club as the Challenger of Record for the 33rd America’s Cup.

BMW ORACLE Racing’s owner, Larry Ellison, and the President of Alinghi, Ernesto Bertarelli, have communicated with each other since the court ruling.

At this stage the club believes it is best to keep communications between the parties private in the interests of reaching a successful conclusion as quickly as possible.

It seems crazy that it took a panel of judges to create a situation where these guys would sit down and talk about the future of the Amerca’s Cup.

Both have a lot to gain, but perhaps more to lose from this round of talks. Neither man would want to go down in history as the guy who wrecked the America’s Cup for all time.