Wednesday, April 15, 2009

America's Cup: LATEST NEWS

Dear Members of the Société Nautique de Genève,

The latest developments in the 33rd America's Cup deserve some explanations so that you are all aware of the current situation.

For nearly two years, SNG and Alinghi have worked in conjunction with 18 challengers and those discussions led to the establishment of two new classes of America’s Cup yachts, initially the AC 90 rule and, more recently, the AC 33 rule. In addition, the rules that would have had governed a multi-challenger event as proposed in May 2010, were negotiated and published.

On April 2nd, the New York State Court of Appeals declared that the Club Náutico Español de Vela was not a valid Challenger of Record and, as a result, forced the Société Nautique de Genève to accept the Golden Gate Yacht Club (the club of BMW Oracle Racing) in its place, according to the terms in their notice of Challenge, including a multihull boat 90ft by 90ft.

Following the recent decision of the New York Courts, the rules governing the 33rd America's Cup, that SNG had developed with the Club Náutico Español de Vela, are no longer valid.

The Société Nautique de Genève is writing Golden Gate Yacht Club today to inform them that it accepts their America's Cup Challenge and that invites them to meet in order to define the terms that should govern the 33rd America's Cup.

Ernesto Bertarelli, President of Alinghi, also expressed his willingness to meet the President of BMW Oracle Racing, Larry Ellison, in a face-to-face meeting.

We will keep you informed of the outcome of these meetings in the weeks to come.

Yours sincerely,

Fred Meyer
President of the America's Cup Committee

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