Americas Cup challenger's EUR12m budget

10th September 2007, Comments 0 comments

10 September 2007, MADRID - (AFP) - The Spanish challenger for the 2009 America's Cup will match this year's budget of 60 million euros (82 million dollars) with 12 million for the design of a bigger boat, the Desafio Espanol syndicate announced on Monday.

10 September 2007

MADRID - (AFP) - The Spanish challenger for the 2009 America's Cup will match this year's budget of 60 million euros (82 million dollars) with 12 million for the design of a bigger boat, the Desafio Espanol syndicate announced on Monday.

The 12 million euros will be used for design of a 90 foot (30 metre) yacht, larger and faster than the current America class, and wanted by Swiss cup holder Alinghi for the 33rd edition of the race, said Desafio boss, Agustin Zulueta.

The design work will be done by the American naval architects Farr Yacht Design, which up until now have worked for the US challenger Oracle.

Desafio, which reached the semi-finals of challengers this year, will also continue with Spanish electricity producer Iberdrola as its major sponsor.

Zulueta told a press conference that the crew would be reduced from 40 to 30 for the 2009 challenge as only one boat would be used.

Current cup holders Alinghi and San Francisco-based Oracle syndicate are in a legal dispute over competition rules for the next America's Cup in 2009.

Alinghi nominated Desafio as the "challenger of record" which allows the Spanish syndicate to define the rules in cooperation with the Swiss. A New York court is expected to make an initial ruling on the case on Monday.

Alinghi retained the Cup, the sport's richest and most glamorous event, in July by beating Emirates Team New Zealand.

[Copyright AFP with Expatica]

Subject: Spanish news

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