Jump to content

cup talk

Recommended Posts

Moves are being made by a Kiwi rich-lister to see if the defence of the America's Cup can be held in Auckland after all.

Mark Dunphy, CEO and chairman of Greymouth Petroleum and on New Zealand's rich list with an estimated worth of $230 million, is at the helm of the move to hold the 37th America's Cup in Auckland – most likely with a mix of private and Government funding.

Dunphy has been speaking to the Royal New Zealand Yacht Squadron, the holders of the Cup, but says the squadron and Team New Zealand now need to answer the question: are they committed to a local defence if the money can be found?

One insider spoken to by the Herald estimated that Dunphy and others are looking for up to $80m, maybe more, to bridge the gap between the (since withdrawn) Government offer of $99m and Team NZ's financial needs. Team NZ turned down that, though only about a third of that figure was in cash. Up to $200m has been mooted as the top end of a budget needed to finance a defence in the AC75 foiling monohulls.


Another interesting aspect of the Dunphy America's Cup effort is that it is focusing largely on the RNZYS – although Dunphy said he had corresponded with Team NZ "through the squadron".

One yachting source said: "If they find the money, it could lead to members of the current Team NZ migrating across to a new entity. There would seem to be two options – Team NZ either wind up or they could negotiate a defender series [where yachts from the defending country race off to decide who will sail in the Cup match]."


Link to post
Share on other sites

Ordinary people rarely achieve extraordinary things so I get the whole scene has its fair share of ‘rock star’ personas. But it sounds like the egos are now so overinflated that rationale decisions are fast going out of the window.

Losing interest (again)…

  • Upvote 1
Link to post
Share on other sites

Oh I think it is great that Mark is challenging Grant to fess up, I am sure the Squadron want it to stay, but Grant might have to choke a little depending on what he has already agreed to with Ineos.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...