Latest Legal CommentarIES
America's Cup Part 3A
Last week, I expressed my concerns about the damage being done to Team New Zealand’s hard won reputation because of the coincidental request by it of the Government and/or the Auckland Council for a “hosting fee” for the holding of the next America’s Cup Event in Auckland and the revelation (by TNZ) that it had been offered over $100 million by Abu Dhabi and by Sochi in Russia (neither being noted for premium yacht racing) to shift the Event to their location. The Mayor of Auckland was reported as saying that the request for a fee (over and above the funding of the infrastructure costs of holding the Event expected to be between $140 million and $190 million) “came out of left field” and was mentioned by Grant Dalton for the first time on 19 November. More...