America’s Cup club in financial trouble
Published on July 13th, 2023
The Royal New Zealand Yacht Squadron, holder of the America’s Cup, estimated trading loss for the last financial year has risen to almost $2 million. It blamed the loss on the impacts of the COVID-19 pandemic and stormy weather in early 2023 while unnamed sources suggested the club had also suffered membership losses because of its decision to host the next America’s Cup in Barcelona rather than Auckland. – Full report