Spinning the America’s Cup bottle

Defending the America’s Cup should strengthen a team’s future. All the work to host the event was done. The venue is built. The template need only be tuned, not imagined. Easy peasy.

But then Emirates Team New Zealand overplayed their hand.

As the only team at the 2017 America’s Cup that fought the low-cost plan being pitched for future events, the Kiwi victory allowed them to shape the 2021 event into a competition of extraordinary cost.

No worries, they thought, as the advantage of creating a new class boat, in this case the out-of-worldly AC75, gave them a head start on the others. Used well, more time equals more speed, and the defender used their time well.

However, with that advantage gone, and the stakes now risen beyond their means, the Kiwis look for piles of gold to fill their war chest. Leveraging the host venue is an old game, but few cities endure the hangover. Just not worth the fun.

After the win in March 2021, the timeline to plan for the next edition in 2024 had a venue announcement pegged for September 17, 2021. While Auckland was eager to hit repeat, not at the financial terms desired by their team. More time was needed to field offshore offers. That deadline is approaching on March 31, 2022.

Nothing has gotten simpler during the postponement. As Auckland remains an option, here are some problems with the prospects…

• Ireland: Politicians are easily romanced by the idea of hosting the America’s Cup, but local boating columnist WM Nixon sees little change in the support for Cork. After a very mixed reception when the idea was first floated last year, a rapidly deteriorating international political and economic situation makes America’s Cup promotion a surefire vote-loser at grassroots level. Politicians like getting reelected and this boat is sinking.

• Saudi Arabia: With reports of at least $1.5bn spent on high-profile international sporting events, this would seem to be an ideal financial partner if not for the flash being used to obscure the Kingdom’s poor human rights record. When key Kiwi sailors Peter Burling and Blair Tuke had delayed recommitting to the team, it was theorized they wanted no part of this cynical marketing plan. Now that they’ve re-signed, is the Arabian Peninsula still on the table?

• Spain: Prospects from Barcelona, Malaga, and Valencia all seemed promising if not for the failure to excite funding from the central government. The pitch for the America’s Cup to revitalize these port cities is well worn, yet history is not favorable for fulfilling the mission. When Madrid says hosting the event “escapes our area of competence“, others should listen too.