Team Australia Update Challenger 34th America"s Cup

May 23, 2011 - PRLog -- Summary of current team activity

The 34th AC Australian Challenge Pty Limited (ACN 147 971 257) paid the deposit to challenge for the 34th America’s Cup in January and was accepted at this time as a Challenger of Record.  We were the 5th Challenger of record to be accepted by the Golden Gate Yacht Club.

Team Yachting Australia was the first challenger to trial the new AC45 in Auckland, New Zealand.

Members of our team have been actively involved in Team forum discussions and are significantly advanced with respect to sail design, logistics, crew training, and are well positioned leading into the first regatta in Cascais, Portugal.

Team Yachting Australia Ltd has made approaches to NSW events, Sydney Port Authority, Darling Harbour Authority, NSW Waterways, and the Sydney Opera house with the view to staging a regatta in Sydney Harbour during January 2012.  We also understand authorities in other states are interested in sponsoring the proposed February regatta in Australia and we support these activities.

Team Yachting Australia Ltd has lodged an application for this event with the 34th Americas Cup Event Authority and has received confirmation and advice that the venue dates during January and February 2012 are available for events to be held in Australia during this period.

We are in advanced stages of discussion with the America’s Cup Event Authority with respect to securing the January venue dates for a Sydney harbour regatta.

Discussions have been initiated between the new Liberal NSW Sport Minister and Team Yachting Australia Ltd with the view to secure state and federal support for these regattas.

Supporting the bid to host an event in Sydney during January, a proposal has been put forward to hold an Australian marine product exhibition at Darling Harbour during the nine-day regatta.

Supporting our activities, Deloitte have recently published an economic impact statement forecasting significant value to host venues of AC45 World Series Events.

This week (9th May) our team has finalised our negotiations with ACRM in relation to the purchase of the team AC45.  Team Yachting Australia Ltd will receive AC45 boat number nine and we expect delivery on or about the 30th of May.

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