Posts Tagged ‘Team France’
As the world waited for Le Roi Russell to announce his entry list for the LOCATION TBD America’s Cup, we learned that the delay had nothing to do with whatever the AC spin said; our insider tells us that at least one team asked for a delay to shore up their finances and sponsorship scenario. Meanwhile, the AC has announced this morning that there are indeed five challengers who fronted up several million in nonrefundable deposits and bank pledges for the LOCATION TBD America’s Cup. While we remain highly doubtful that all five will make it closer than Team Australia did to the starting line of the LOCATION AND TITLE SPONSOR TBD Challenger’s Regatta in three years, we do hope they do; it would be great to see the UK and France do well, perhaps igniting some national fervor for the America’s Cup, and perhaps (as unlikely as it may be) wresting it from Coutts’ control to bring it to real international prominence.
Meanwhile, Sportbusiness.com today writes that Ben Ainslie has lost any chance at getting longtime BAR sponsor JP Morgan to foot the estimated $50-75M title sponsorship spot for his AC bid.
The Ben Ainslie Racing (BAR) sailing team will look for a new title sponsor for its inaugural 2017 America’s Cup campaign after the incumbent, financial services company JP Morgan, decided not to continue past 2014.
The BAR team is the UK’s entrant for the next America’s Cup series. It is led by Sir Ben Ainslie, the most successful sailor in Olympic history and tactician for Team Oracle USA during its dramatic victory at the 2013 America’s Cup.
It is understood that New York-based JP Morgan, which has been the title sponsor of Ainslie personally since 2007, and the main global partner of BAR since the team’s launch in January 2012, feels an alignment with a British team against American competitors would not match its brand image.
The team is now looking for a title sponsor on a three-year contract, from 2015 to 2017.
A UK South Coast insider sent us another update this morning, possibly explaining the JPM departure from Team Sir Ben.
I wouldn’t take this as a sign of anything other than regime change on the sponsorship front. When the team’s AC effort was launched, one of the things I noticed was there are a couple of people on the Board of the team from Vitol, an oil trading firm (including Ian Taylor, its CEO). Vitol is not quite Torben Torquist’s Gunvor, but that’s mostly in the sense it’s not largely owned, ultimately, by a tiger-petting Russian king.
Vitol is possibly not the most ethical of firms, and was only a few weeks ago exposed in engaging in UK Tax Avoidance on a massive scale, according to the Independent. With figures like those in the above article, it’s entirely concievable they have 50 million quids kicking around ready to drop on a Cup campaign. Given some of the other rather, ahem, ’controversial’ transations Vitol has been associated with, it could be that JPM didn’t really want to be sharing signage space with them…..
And in a final piece of AC news, European sailing blog Farevela reported yesterday the completely terrifying news that Juan Kouyamdjian will be one of the designers of the underfunded Team France effort, perhaps built on the strength of Franck Cammas’ relationship with the JuanKer during the successful Groupama 70 VOR program. We’d humbly suggest our friends on the team get some extra life insurance…
August 21st, 2014 by admin
We took Mich Dej’s presently undefined role in the Team Campos VOR team as an indicator that maybe things are not going all that well for him as one of the trio of leaders of the Team France AC effort, but that take might be very wrong if you believe France’s top sailing journo Loïc LeBras. LeBras is a good digger though, and his sources told him two days ago that Cammas is about to sign a major agreement with “France’s leading hotel group and Europe’s leading aircraft manufacturer.” Cammas’ statement in an otherwise fluffy and bullshitty joint statement today seems to support Franck’s optimism that Team France will, at least, be able to enter by the million-dollar deadline on the 8th of August.
Let’s not screw around with implication here; if LeBras is right, we’ll see some serious commercial juice in AC35 from a second non-billionaire backed team. France’s biggest hotel group, by far, is the Paris-based Accor, which owns some 3,600 hotels on five continents. They hit every budget with their holdings; from Motel 6 and Red Roof Inn right up to the 5 stars of the Sofitel and Pullman lines. And of course Europe’s biggest airplane manufacturer is Airbus, which has been peripherally involved in sailing (via the C-Class Invictus and several other endeavors) for ages now. As a branding exercise, Airbus could get huge mileage out of involvement with the AC, especially considering Oracle’s ties to Airbus competitor Boeing. And while France’s tardiness means they might miss out on the designer raffle and some may dismiss this as a Luna-Rossa-in-AC-34-style ‘learning campaign’ leading to AC36, there are those who thought the same thing about Groupama in the VOR…and we know how that worked out.
Stay on top of the Team France thread in America’s Cup Anarchy for the latest on Cammas and Co, and have a look here at one of the most empty, vapid, useless press releases we’ve seen from a Cup team in years…and that’s saying something.
July 25th, 2014 by admin
While IMOCA figures out what to do with its future, some of its most legendary skippers are moving in another direction. As first reported here on SA almost half a year ago, Franck Cammas is moving forward with his usual laser-beam focus on a French America’s Cup bid, and an announcement at the Paris “Nautic” boat show may be the first indicator that he could succeed where Les Freres Peyron couldn’t.
Picking up his second-annual French Sailor of the Year award last night, today Cammas pulled together a true ‘who’s who’ in French racing history for this morning’s announcement. Michel Desjoyeaux will lead the technical team and Franck the sailing team, while Olivier de Kersauson and Stephane Kandler will handle the less exciting parts of the effort.
The team’s “founding members” — in other words, the guys that have funded the initial sponsorship hunt and tried to open some boardroom doors — include big biz bosses Bruno Bich (Bic), Bertrand Méheut (Canal +), Thierry Martel (Groupama), Bruno Luisetti (formerly Kraft Jacobs Suchard) and Erik Maris (Messier Maris & Associés), but crucially no major sponsors were announced. In other words, there’s enough money to go looking for more, but not enough to start spending. We also hear from les anarchistes in Paris that some of the veteran grinders are being asked to keep their schedules open for late 2014 and 2015’s AC45 World Series, but no contacts have been signed…
The newly opened Team France thread is bound to be a big one; check it out over here.
While France throws its hat into the ring, Grant Dalton yesterday told 3News NZ that he was back in as well despite earlier question marks from the public and Dalts himself, and the bitter taste of a crushing defeat. It’s great news for AC35, as Team NZ continues to prove, year in and year out, that it’s the most credible of challengers. We’re guessing he won’t be on the boat this time, though Glenn Ashby has already re-upped and Dean Barker is a lifer. Meanwhile, Dalts continues his publicly lukewarm face on the VOR, claiming the $30M he estimates necessary to win might be impossible to find in the current economic climate. Then again, Dalts might just be pulling the old ‘negotiation by media’ option with VOR CEO Knut Frostad…
Pauly (on the) Shore
Doing it’s beat to leave the Paul Cayard-led disaster that was Artemis’ AC 34 effort, the team just announced that Nathan Outteridge and Iain “Goobs” Jensen are continuing with the team, which is currently preparing its bid for the 35th America’s Cup. More. no word which teams are beating down the door to pay way too much for Cayard’s incredible leadership skills.
World Series of Poke Her
The Bay Area Economic Council reported their final America’s Cup economic benefit analysis on Monday, with around $364 million in total economic impact landing in the area over the roughly 3 month period of the event. This is less than 30% of the original (and insane) $1.4B projection, and less than 40% of the revised $902M projection from March 2013 (and hopefully the City will tell ACEA to get fucked when they tote the same incompetent financial consultants to the table when negotiating the 2017 deal). With this crap news and the embarrassing ratings for the entire “Summer Of Sailing” and even the incredible AC final (outside of NZ), Coutts is already hedging against big expectations for AC35 in recent softball interviews.
“We’re considering having each of the teams host a World Series event”, Coutts told AC33 and 34 PR staffer Peter Rusch, who’s apparently playing reporter with Yachting World until his AC35 contract comes in. Coutts says this “would be great in terms of generating excitement in their home countries,” but let’s be serious: After dropping half the US military budget on incredible ACWS events, Russell is very clearly telling potential teams that they will be responsible for their own regattas in the future. It’s a shame, because the ACWS is the one part of the AC34 plan that provided awesome racing from beginning to end, and if OTUSA has the kind of massive advantage over AC35 challengers that we would have seen had they not had the big capsize, it might be the only exciting racing of the next Cup – especially if, as we have been hoping, the AC45s race as one-design platforms with unrestricted foils.
Thankfully Coutts cited a coming nationality rule, a welcome change to anyone (like us) who thinks patriotism and sport make great bedfellows. But he’s already preparing us for a small fleet, presumably because Ellison is shooting to keep the AC72 Class for AC35. “I think we are better to aim at quality rather than quantity,” he said, despite claiming that new cost reduction measures should cut overall team budgets by around a third. Call us cynical, but there’s no way in hell another AC72 program will magically cost 25-35 million less than the last time around, even if some one-design elements come into play and there is a joint logistics package. If there’s one thing that Russell Coutts has proved over and over again, it’s that he always wins, and it always costs a lot more than he says it will.
In our final bit of Cupdate news, longtime Kiwi Cup lawyer (and architect of Alinghi’s doomed CNEV challenge) Hamish Ross hit the news today after claiming in a piece in the NZ Law Journal last month that the New York Courts should have no place in deciding how the America’s Cup is run. Claiming that foreign litigants can’t get a fair shake in the US courts (mostly because he personally can’t seem to win one) Ross says that the Cup should be administered by ISAF instead. Because of course ISAF is so very impartial, and of course unmotivated by greed or the millions if fees they seek from the AC. Ross argues that the Deed of Gift and AC Trust are not even valid, and that they could perhaps be overturned by the Court if a strong plaintiff sued the current Trustee; it’s been Ross’s pet argument for a decade, and it’s quite persuasive, until you realize Ross’s theory rests on two centuries of hearsay, dicta, footnotes, quotes from irrelevant politicians, and courts of another country. It’s no wonder Ross can’t win a case in the US – even after all this time, he still doesn’t understand how precedent works here.
December 11th, 2013 by admin