Looks like our good buddy Ernie got a little bad news today. the banking giant UBS has said "nein" to Alinghi AC sponsorship, at least for now. Bummer, dude.
Translated from German: UBS puts Alinghi sponsoring on ice.
Major bank demands clarifying the running modalities.
Altogether the major bank invested UBS to today 47.9 millions Fr. into the sail project Alinghi. Now Alinghi, whose owner and multibillionaire Ernesto Bertarelli belong for years to the UBS board of directors, must plan the future until further notice without subsidies of the major bank.
The UBS wants to talk only again about Sponsoringbeträge if the legal arguments are clarified around the sail competition. “Over with Alinghi about an extension of the Sponsoring commitment to negotiate, we must know, like the modalities 33. America’s Cup look”, confirmed a UBS spokeswoman opposite “the business magazine”.
The legal controversy between Alinghi and BMW Oracle over the basic conditions of the Cups smolder since July 2007. Sponsoring successor not in view
Whether the major bank suffering from billion-losses wants to finally say good-bye to Alinghi, remains open. Who could jump into the threatening UBS gap, is unclear. The goods examiner company and Alinghi Nebensponsor SGS decline anyhow. SGS-CEO Chris Kirk says opposite the “business magazine” that its enterprise remains as a sponsor on board. But: “UBS is a Leadsponsor, we plays in another league.” Jump in the thread.