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Alinghi negotiates - Should the DoG match happen in 2009, it will be in Valencia for EUR 50m.


EB had a busy week in Valencia. The Defender of the America's Cup came to train onboard the Alinghi catamarans and negotiate the future of the competition with the local authorities .
The offer brought by the Swiss to Valencia is as follows : Two America's Cup editions, one in 2009 against BMW Oracle aboard multihulls for EUR 50m and the next one in 2011 with a competition opened to other syndicates.
As the agreement was already signed (for EUR 105m according to the Spanish party) for the failed 2009 regatta, the overall economic terms will be maintained but split over the two competitions.


To be noted : the parties have started negotiations on how to share the cake. The million euros will have to be split over the two regattas, because Valencia can't accept to pay EUR105m for one edition only, in case Alinghi loses the Deed of Gift match.


The agreement is not very far away. Of course, the relations between Alinghi and Valencia are far better than those between the Swiss and BMW Oracle. While the parties don't mention figures, LAS PROVINCIAS confirmed yesterday that the fee to celebrate the regattas in Valencia in 2009 would be EUR 50m, 35% of the total cost for the nautical event.


Of the three parties forming the Consorcio Valencia 2007 (the City, the Province of Valencia and the Spanish government), the first two have been working since february on a scenario for AC33 to be held in 2009. Meanwhile, the agreement with the third party was to wait for the conclusion of the spanish General Elections for the new government to be formed.


The same sources highlighted that this "third leg" of the Consorcio hadn't said a word about the possibility to advance EUR 50m for the races to be held in 2009. A new meeting is expected to take place at the end of this month, this time with representatives of the Spanish government.


The vice President of the Consorcio Valencia 2007 is Minister Elena Salgado, even though the recent contacts from Valencia were with the Minister of Economy mostly to sort out the payment of the agreed fee.


The EUR 50m result from 35% of the Original agreement (or EUR 36,75) and from the remainder of the contractual obligations which were signed before BMW Oracle brought the event to the courts.
These obligations include the TV rights and the sponsorship agreements which the public entity will have to bring. The same sources highlighted that this is similar that what would have been brought to the organizer of the event, ACM, hadn't the calendar been interrupted by the american claims.


In case Alinghi wins the race against BMW Oracle, the second contract will be automatically triggered for the organization of AC34 in 2011, certainly in July.
The second scenario shows Alinghi celebrating the 33rd edition in Valencia only to lose the Cup to BMW Oracle. The Swiss would earn the 35% from the first event but would have to forfeit the remainder as the defense of the Cup would be passed to the other syndicate.
In this case, the members of the Consorcio would need to negotiate a new contract with the American team for the event to be held in 2011 in Valencia. The institutional sources reached by Las Provincias mentionned they were not ready to pay the entire original fee to the americans, but would start with the splitting agreement signed with Ernesto Bertarelli.


While BMW Oracle refused to comment, it can be imagined they would not agree to this type of agreement given they have always referred to the AC32 economic model, which was originally extended on July 25th 2007 to the beginning of this 33rd edition.


On the other hand, this whole scenario is pending Justice Cahn's decision, which could totally compromise the two-month long negotiations between Bertarelli and the members of the Consorcio. The Judge to the Supreme Court is expected to release a final ruling in the coming days or weeks. If the judge maintains his first decision, the Cup would be held in July 2008; if he rules for BMW Oracle the event would happen in October 2008, and if he approves the Alinghi claims, the Cup will be raced in may 2009.


Alinghi already declared they were thinking about two options, should they lose this last case: first is to appeal the ruling for a different date to be set, and present the case to a higher jurisdiction. The second option would be to forfeit the 2008 races if they eventually do not receive a satisfactory ruling. Bertarelli and his team have relentlessly repeated that they would never be ready to prepare their boat (a giant multihull) to confront BMW Oracle, who seem to be well advanced in the construction of their 90 footer.
As one can see, this is a brain teaser which depends on various factors and which could get worse in the coming few weeks.

Dam a écrit :

Helmina a écrit : Alinghi peut choisir

- un plan d'eau hyper venté = casse à prévoir pour un multi

Mouais, un peu risqué comme pari: vous connaissez beaucoup de plans d'eau où ça souffle à 30 noeuds 25 jours/mois?

Tiketitan a écrit :Alinghi/ACM demande quand meme 50 millions d'€ à Valence pour accueillir la 33e coupe et 100 pour la 34e, pas sur qu'ils acceptent d'alingner autant surtout pour le match Alinghi/BMW Oracle

La oferta que trajo el suizo a Valencia es la siguiente: dos copas, una en 2009 con los multicascos por 50 millones de euros y frente al BMW Oracle, y otra en 2011 con una competición abierta a todos los sindicatos. Como ya se ha firmado el canon (sobre unos 105 millones de euros según la parte española) para la fallida regata de 2009, se mantienen los términos económicos y se divide entre las dos competiciones.

Helmina a écrit :
PS Mais quand tu lis la traduction en anglais, tu ne comprends pas comme moi ?

Helmina a écrit :OK, c'est parce que Valencia rajoute les accords contractuels (sponsors, droits TV, et...). Les 150, ce sont les 105 + les accords contractuels mais ce total était bien prévu pour l'évènement d'origine. Et Alinghi aurait demandé 1/3 de cette somme pour la coupe en multi. Reste 100 millions pour la 34. Mais pour le consortium ça fait bien 50 + 55 = l'accord d'origine coupé (à peu près) en deux.

C'est marrant cette interrogation sur le lieu de la coupe, il ne faudrait pas oublier que le DoG dit qu'en l'absence d'accord le match doit se jouer sur l'océan !