Press Conference to Introduce Teams and Skippers: 9 September in London
ACEA will hold a press conference in London on 9 September to introduce the teams and their skippers. In the meantime, ACEA (on behalf of Golden Gate Yacht Club) will make sure the submitted challenges are valid. Challengers then have seven days to pay the first installment of the entrance fee – $1 million due now with the second payment of $1M due 1 December. They must also pay $75,000 in fees for intellectual property protection and website costs now. Those fees are non-refundable. There is also a refundable $1 million performance bond due 1 December. When the fees due now have been paid, the challenge will be accepted. ACEA expects that process to be completed by 20 August.
Will there be other announcements? Like…
- naming the Regatta Director?
- naming the Commercial Commissioner?
- naming the venue for the America’s Cup Match?
The challengers certainly want to know the venue – their sponsorship sales are stalled without that information. ACEA must announce the venue by the end of December, but an earlier announcement would be very welcome! The challengers will want a say in the appointments, especially the Regatta Director, so we may have to wait to get that news.