America's Cup Management
Encyclopedia
Alinghi
, as holders of the America's Cup
following their win in the 2003 America's Cup, held the responsibility and benefits of defining the rules and structure for the next event
. Alinghi team principal, Ernesto Bertarelli
formed a private company called America's Cup Management to oversee the organisation of the next America's Cup including date, location, media rights, boat design, entry fees and all the key details required to conduct the America's Cup. Much of this work was done in consultation with the Challenger of Record -- the Golden Gate Yacht Club
and its representative BMW Oracle Racing
.
America's Cup Management announced on July 5, 2007 that they anticipated a revenue surplus of approximately 30 million euros would be available for distribution to the 11 participating teams to provide the teams some financial continuity and encouragement to plan their participate in the 33rd America's Cup. Under the term of the protocol issued by America's Cup Management for the 2007 event, 50% of the net surplus revenues are retained by the Defender (i.e. Alinghi) and the other 50% are distributed on the same basis as for the previous three editions of the America's Cup. Of the remaining 50% then 40% is divided equally amongst all Challengers, 30% is divided equally amongst all Challenger semi-finalists in the Challenger Selection, 20% divided equally amongst both Challenger finalists in the Challenger Selection and 10% to the winner of the Challenger Selection.
In summary, Alinghi received 30 million euros and the remaining 30 million euros was distributed to the challengers as follows:
Alinghi
Alinghi is the syndicate set up by Ernesto Bertarelli, racing under the colors of the Société Nautique de Genève, to challenge for the America's Cup. Bertarelli had raced several smaller yachts named Alinghi previously, but 2003 was his first attempt at the America's Cup...
, as holders of the America's Cup
America's Cup
The America’s Cup is a trophy awarded to the winner of the America's Cup match races between two yachts. One yacht, known as the defender, represents the yacht club that currently holds the America's Cup and the second yacht, known as the challenger, represents the yacht club that is challenging...
following their win in the 2003 America's Cup, held the responsibility and benefits of defining the rules and structure for the next event
2007 America's Cup
The 2007 America's Cup was the thirty-second challenge for the America's Cup and was won by Alinghi in the 7th race. The Cup is the most famous and most prestigious regatta and Match Race in the sport of sailing....
. Alinghi team principal, Ernesto Bertarelli
Ernesto Bertarelli
Ernesto Bertarelli is a Swiss-Italian billionaire and entrepreneur.Together with his extended family, Bertarelli was ranked 81st in the 2011 annual ranking of the world's wealthiest people compiled and published by Forbes magazine, The family's wealth was estimated at US$10.0...
formed a private company called America's Cup Management to oversee the organisation of the next America's Cup including date, location, media rights, boat design, entry fees and all the key details required to conduct the America's Cup. Much of this work was done in consultation with the Challenger of Record -- the Golden Gate Yacht Club
Golden Gate Yacht Club
The Golden Gate Yacht Club is a yacht club founded in 1939 and is the current holder of the America's Cup won by its racing team BMW Oracle Racing.In 1939 the first members built a clubhouse on a barge in the San Francisco Marina...
and its representative BMW Oracle Racing
BMW Oracle Racing
Oracle Racing is an American sailboat racing syndicate initially formed to compete for the 2003 America’s Cup. They competed again in the 2007 event before winning the 33rd America's Cup regatta in 2010 - representing the Golden Gate Yacht Club....
.
America's Cup Management announced on July 5, 2007 that they anticipated a revenue surplus of approximately 30 million euros would be available for distribution to the 11 participating teams to provide the teams some financial continuity and encouragement to plan their participate in the 33rd America's Cup. Under the term of the protocol issued by America's Cup Management for the 2007 event, 50% of the net surplus revenues are retained by the Defender (i.e. Alinghi) and the other 50% are distributed on the same basis as for the previous three editions of the America's Cup. Of the remaining 50% then 40% is divided equally amongst all Challengers, 30% is divided equally amongst all Challenger semi-finalists in the Challenger Selection, 20% divided equally amongst both Challenger finalists in the Challenger Selection and 10% to the winner of the Challenger Selection.
In summary, Alinghi received 30 million euros and the remaining 30 million euros was distributed to the challengers as follows:
- Emirates Team New Zealand 2007 America's Cup2007 America's CupThe 2007 America's Cup was the thirty-second challenge for the America's Cup and was won by Alinghi in the 7th race. The Cup is the most famous and most prestigious regatta and Match Race in the sport of sailing....
Challenger - € 9,341,000 - Luna Rossa ChallengeLuna Rossa ChallengeLuna Rossa Challenge is an Italian sailboat racing syndicate, created to compete for the 2000 America's CupSponsored by Prada, and beginning from 2005 also by Telecom Italia.-2000 Louis Vuitton Cup:...
(beaten finalist) - € 6,341,000 - BMW Oracle RacingBMW Oracle RacingOracle Racing is an American sailboat racing syndicate initially formed to compete for the 2003 America’s Cup. They competed again in the 2007 event before winning the 33rd America's Cup regatta in 2010 - representing the Golden Gate Yacht Club....
and Desafío Español 2007Desafío EspañolDesafío Español 2007 is a yacht racing team that competed for the Louis Vuitton Cup 2007, the challenger series held prior to the America's Cup. They made the Semi Finals before being eliminated by Team New Zealand.*...
(beaten semi-finalists) - € 3,341,000 each - +39 Challenge+39 Challenge+39 Challenge is a yacht racing team established in 2004 that competed for the Louis Vuitton Cup 2007, the challenger series held prior to the America's Cup. The teams is based at the Yacht club "Circolo Vela Gargnano" in Gargnano, Italy, and is owned by Lorenzo Rizzardi, the president of the club...
, Areva ChallengeAreva ChallengeALL4ONE Challenge is a French-German yacht racing team that competes in International America's Cup Class races. The team has formerly competed as K-Challenge and between 2005 and 2007 they were known as Areva Challenge.-History:...
, China TeamChina TeamChina Team is a yacht racing team formed in 2005. China Team first appeared in competition in the Louis Vuitton Cup 2007, the challenger series held prior to the America's Cup...
, Mascalzone Latino-Capitalia TeamMascalzone Latino-Capitalia TeamMascalzone Latino is a yacht racing team that competes in America's Cup style sailing out of the yacht club Club Nautico di Roma.-2007:Known as Mascalzone Latino-Capitalia Team and at that time also representing Reale Yacht Club Canottieri Savoia, the team first competed at the Louis Vuitton Cup...
, Team ShosholozaTeam ShosholozaTeam Shosholoza is a yacht racing team representing Royal Cape Yacht Club of Cape Town, South Africa competing in the 2007 America's Cup.The name Shosholoza refers to a popular South African song and is used in an attempt to encompass the African spirit of the team.-History:The team's history goes...
, United Internet Team GermanyUnited Internet Team GermanyUnited Internet Team Germany is a yacht racing team that competed for the Louis Vuitton Cup 2007, the challenger series held prior to the America's Cup....
and Victory ChallengeVictory ChallengeVictory Challenge was a Swedish yacht racing team that competed in 2003 America's Cup and 2007 America's Cup. The team was initiated in 1999 by Swedish businessman Jan Stenbeck, and after his death in August 2002, his son Hugo Stenbeck took over....
- € 1,091,000 each.