- America’s Cup syndicate Alinghi is reported to have entered the 37th America’s Cup.
Ernesto Bertarelli’s Swiss syndicate paid the initial $1.47 million entry fee for the 37th America’s Cup, on the opening day for entry to the next America’s Cup . . . AC37.
Alinghi first won the Cup in 2003, defeating defender Team NZ 5-0 in the Cup match. They successfully defended the Auld Mug in Valencia in 2007 and then lost to Larry Ellison’s Oracle in a Deed of Gift Challenge in 2010.
According to the New Zealand Herald, the Swiss syndicate has paid the initial $1.47 million entry fee and are working to secure an old practice boat.
The Royal New Zealand Yachting Squadron reported that several challenges were received soon after the entry period opening.
“However, in terms of the identities of the Challengers, it is up to the teams themselves to announce their individual challenge when they are ready as some do wish to remain confidential for now.”
American Magic recently indicated that they intended to enter, but have not confirmed a yacht club to represent and is believed to be waiting for a venue to be announced. This is due by 31 March 2022.
The intiial entry fee is just the tip of the iceberg.
Entrants must also make a second payment of $1.83 million by 21 September 2022, plus:
- A website contribution of $150,000
- A Properties contribution of $25,000
- A $1.47 million performance bond
- Three $293,000 preliminary regattas entry fees
- Purchase an AC40 yacht package – maximum cost of $1.85 million
- Buy two hydrogen-powered support vessels at a cost of $2 million each.
This is without the individual costs of each team to build and campaign their team.
Like INEOS Britannia, Alinghi has allied itself with an F1 racing team – Red Bull F1 – taking advantage of the excess of design staff the F1 teams have following new budget cap rules for 2022.
The period for Challengers to enter runs until 31 July 2022, but late entries for the 37th America’s Cup may be accepted until 31 May 2023.
The order of entry determines the allocation of their AC40 yachts and team bases at the venue of the AC37.
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