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NEWS
Oatley pulls out of America's Cup
Team Australia withdraws from the 35th America’s CupAfter plenty of desirable publicity following its announced challenge in September 2013, not to mention recent trials and crew practice on Sydney Harbour, Hamilton Island Yacht Club today (Saturday, July 19) announced its withdrawal from the 35th America's Cup.
The Hamilton Island Yacht Club became the Challenger of Record for the 35th America’s Cup upon the completion of the 34th America’s Cup in San Francisco in 2013.
In commenting on the decision not to proceed with the challenge, Sandy Oatley said: “When we entered the Cup we had the intention of trying to change the Cup in many ways. Our position as Challenger of Record gave us the opportunity through the drafting of the protocol to affect this change. Central to these changes, was the desire to make the participation in the Cup more affordable and more sustainable.”
Bob Oatley (right in photo) said: “The Challenge was initiated with a view to negotiating a format for the 35th America’s Cup that was affordable and put the emphasis back on sailing skills. Ultimately our estimate of the costs of competing were well beyond our initial expectation and our ability to make the formula of our investment and other commercial support add up.
"We are bitterly disappointed that this emerging team of fine young Australian sailors will not be able to compete at the next America’s Cup under our banner."
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Written byBoatsales Staff
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