Late entries for America’s Cup cough up $1m penalty
Penalty for failing to enter on time is $1m for teams from Netherlands, Malta and the US
Wellington — America’s Cup organisers have reached an agreement to accept three late entries from challengers for the next regatta in Auckland in 2021.
The three syndicates, one each from the Netherlands, Malta and the US, have to pay a $1m late entry fee, with a first instalment of $250,000 by April 1 and the remaining $750,000 by October 1.
Holders Team New Zealand (TNZ) and Challengers of Record Luna Rossa met recently in Auckland to try to resolve a dispute over the fees and other issues, TNZ said on Tuesday.
TNZ said the issues had been settled and the entries confirmed with an amendment of event protocol.
“The path is therefore now clear for the late entries to continue building their respective campaigns to try to participate and the Defender and Challenger of Record will give whatever support they can,” TNZ CEO Grant Dalton said.
The 36th edition of sport’s oldest trophy, to be held in 75-foot foiling monohulls, is due to be held on Auckland’s Waitemata Harbour in 2021. Teams from Britain, the New York Yacht Club and Luna Rossa had already been confirmed as entrants.