Royal New Zealand Yacht Squadron members have forced a special meeting next month, still hoping to keep the next America's Cup defence in Auckland.
Since their successful defence of the 'Auld Mug' at home this year, Emirates Team NZ have searched for a more overseas lucrative, hoping to generate enough revenue to pay for another campaign in 2024.
The trophyholders have rejected a $99 million Government offer to keep the regatta in Auckland, but as trustee of the America's Cup, the RNZYS has been petitioned by members to reconsider where the next defence is staged.
Under RNZYS rules, a special general meeting can be called by 25 current members. Queen's Counsel Jim Farmer has submitted appropriate documents and signatures to set this process in motion.
"While we are disappointed to have received a request in this manner, given we are all proud sailing members of the RNZYS, the club’s flag officers will accept this request and are looking to confirm an SGM date as soon as practicably possible, with a view to achieve an outcome that satisfies all parties," confirms RNZYS commodore Aaron Young.
This month, Team NZ and Challenger of Record Royal Yacht Squadron/INEOS Britannia released protocols for the next defence, retaining the same AC75 boats used in Auckland, but reducing the number of crew on board.
Three venues loom as potential venues for the next regatta - Cork in Ireland, Jeddah in Saudi Arabia and Valencia in Spain - but the COVID-19 pandemic has delayed any announcement on that decision, leaving a window of opportunity for those hoping to keep the trophy in New Zealand.
Businessman Mark Dunphy has been particularly determined to force Team NZ's hand over the venue, but Young warns there could be disastrous repercussions, if they could not generate the revenue needed for a successful defence.
"We have said all along that it is the RNZYS’s preference for AC37 to be held in New Zealand, however it needs to be viable to allow this to happen," he says. "What we and the team have allowed ourselves is time to do everything possible for this to happen.
"It is also very important to us that ETNZ remains viable, that we keep the team together, and we honour our commitments and undertakings with our challenger of record, RYS and INEOS Britannia.
"Currently, we do not have a viable New Zealand venue proposition and, as a result, ETNZ are in discussions with other potential locations. It would be an unprecedented achievement to win the America’s Cup three times in a row and taking the defence overseas - while not our preferred choice - may well offer the best chance for us to do so.
"There needs to be a reality check on the current situation in respect to a New Zealand-based AC37 match. ETNZ needs to secure the necessary funding with local and Government support to hold this event in Auckland.
"Unless this happens we need to consider offshore venues. The consequences of not doing so are potentially dire - no Cup defence at all and giving the America’s Cup back, having been unable to stage a defence and meet obligations under the Deed of Gift.
"This means a loss of the America’s Cup, a loss of our Team New Zealand, and the potential loss of any future America’s Cup challenges from the RNZYS and most likely New Zealand.
"So while we absolutely understand and support the sentiment of the petition and their desire to 'have the event in New Zealand', the answer is not that simple."
