During this morning’s [Nov 7] Throne Speech, the Government said that they will introduce legislation in this session to establish an America’s Cup Act, legislation that will be required for an America’s Cup World Series Racing Event in 2015.
Bermuda — along with San Diego — remains one of two contenders for the final stages of the America’s Cup in 2017, and the organisers have already confirmed that regardless of the outcome of that decision, the America’s Cup World Series will be coming to Bermuda in October of 2015, with racing to take place in the Great Sound.
The relevant portion of the Throne Speech said, “Bermuda’s pursuit of the America’s Cup is another example of the Government working to achieve economic growth and job creation.
“To that end, the Government will introduce legislation in this session to establish an America’s Cup Act — legislation that will be required for an America’s Cup World Series Racing Event in 2015, and, if Bermuda is ultimately selected, to host the America’s Cup Finals in June 2017.
“In the event Bermuda has the privilege of hosting the Cup Finals, experience from former host venues indicates it will have a powerful impact on our economy over the next three years, attracting worldwide attention and generating jobs, investment and revenue across multiple sectors including, hospitality, construction, transport, security, retail, wholesale, real estate and telecommunications.
“It will highlight Bermuda’s heritage as a maritime sailing destination and give our tourism product unprecedented exposure.
“Hosting an event of this magnitude on Bermuda’s shores will require teamwork, support and participation from all spheres of our community and a continuation of the spirit and dedication of the team of private sector volunteers, civil servants and other professionals who have worked tirelessly together to advance Bermuda’s bid into the final two.
“The America’s Cup Event Authority is expected to make a decision between Bermuda and San Diego before the end of the year. Regardless of the final decision, Bermuda will benefit considerably by hosting the World Series Event in 2015.”