The DutchSail America’s Cup team have advised the Royal New Zealand Yacht Squadron that they are withdrawing from the 36th America’s Cup.
Despite working tirelessly for nine months, the team simply ran out of time to find the tens of millions of dollars needed to compete.
For the DutchSail team, skipper Simeon Tienpont says the team are hugely disappointed they won’t be on the start-line in 2021.
“This was our chance to do it for Holland and show you could put it together as a country, not just one rich man.” said Tienpont. “We were just not able to raise enough money and getting a title sponsor was the biggest issue,”
The Royal New Zealand Yacht Squadron asked both DutchSail and Stars & Stripes Team USA for a “commitment” by 1 July 2019, which would have allowed them to continue as entrants without needing to be pay the entry fees until racing begins next April in the AC World Series.
Stars & Stripes Team USA have confirmed their commitment and remain as an entry, although no further information has been released as to the status of their challenge.
As part of their commitment Stars & Stripes Team USA will have to complete the entry fee payment process before they will be eligible to race.
They have already paid their initial payment but as a late entry challenger under the Protocol they also have a liability to pay a US$1million late entry fee due in instalments by 1 October 2019.