New Company Formed For America’s Cup
The Minister of Education and Economic Development, Dr. Grant Gibbons is establishing the legal framework for the hosting of the 35th America’s Cup in 2017, and the Ministry said that in “his public capacity as Minister, he has formally applied to incorporate a local company with limited liability to be called ACBDA Limited.”
“A legal notice under the Companies Act 1981 to that effect published on December 24th 2014 is evidence that the local planning for the America’s Cup is moving ahead,” the Ministry said.
“This is in keeping with the promise made by the Minister that authorities would have to hit the ground running to ensure that organizational structures would be in place early in 2015 to carry through on Bermuda’s responsibilities to host the events.”
“Crew members, representatives of the ACEA and others connected with the events will begin to move to Bermuda in early 2015, as they practice and prepare for professional racing commencing in Bermuda waters in October with the AC World Series.
“In tabling the America’s Cup Bill 2014 in the House of Assembly December 12, the Minister demonstrated that work on the initiative was already in hand. This was important to ensure Bermudians would have every opportunity to benefit from AC35.
“The ACBDA should be up and running in January. Additional details on its structure, organization and operation will be announced in due course.”
Dr. Gibbons said, “In the lead up to the venue announcement, Bermuda had a group of very committed individuals – a very capable team – that successfully bid to bring the America’s Cup event to Bermuda in 2017.
“But now we have a different job to do. We need a focused administrative organization that will work closely with the America’s Cup Event Authority [ACEA] on the management and supervision of our responsibilities as the host country. ACBDA Limited will play a critical role in delivering on our obligations and making the America’s Cup happen.”
The ACEA has scheduled a series of racing events in Bermuda beginning with the America’s Cup World Series over three days in October 2015.
Other events will include Youth America’s Cup in 2017; America’s Cup Challenger Playoffs 2017; America’s Cup Concert Series 2017; America’s Cup Super-Yacht Regatta 2017; and the Finals of the America’s Cup in June 2017.
Read More About
Category: All, Business, News, Politics
“This was important to ensure Bermudians would have every opportunity to benefit from AC35″ Does this include actually hiring Bermudians? I am not working and I would like to have a job please.
Well what do you do LW.
Any clerical, business, management et al (sailing).
I am sure they not building a premises.
Maybe janitorial.
Sorry. No wall sitters.
@Terry,
So glad you care so much about my well being. I have administrative skills and would be open to any opportunity.
Thanks for caring.
this is what we have to wait n see
p.s im confused y so many people “dislike” that this person wants a job
unfortunately, the trolls and other negative-minded people are abundant in the comments section.
The opportunity for Bermudians to benefit has been provided. How people achieve that is up to them. You can make money out of this huge event if you apply yourself. Dont sit and wait for someone else to do it for you.
you won’t get ANY job posting on here all day! some people!
the more you hear about the benefits of the America’s Cup
the more crickets you will hear cricking
You should probably get your hearing checked.
I agree that there is no point “disliking” LW’s comment. Sadly though, there will be some in our community who will say that only those directly linked to the America’s Cup will benefit from it being held in Bermuda.
They will refuse to accept that we Bermudians throughout the community stand to benefit in miriad ways. Examples include taxi drivers carrying not only sailors, support staff and their families, but also all those who visit the Island to see the pre-races in 2016 and the actual event in 2017. It’s the same for hotel and restaurant staff, to shop staff who see increases in their businesses, to those who work for wholesalers supplying merchandise to shops, hotels and restaurants, to dock workers handling goods being shipped in, to gas station attendants who benefit from an increase in business, to service industry staff, and a host of other services that would not be required if the America’s Cup was not being held in Bermuda.
Hosting the America’s Cup in Bermuda is a tremendous opportunity to really kick-start our economy, and we all need to be on board the boat!
where are your examples of opportunities for new business opportunities or people out of work
you haven’t stated any because there aren’t any
There will be plenty of jobs for currently unemployed people. For some reason, that is unwelcome news to some people.
LW —please note who promises are made to and broken and promises made and kept.. the america cup is a promise for a certain group of people only.. If ya not in the know then prolly not in the circle of reepers…hope you find comfort ….
The people who won’t benefit are those who won’t bother to grab any of the many opportunities that will present themselves.
They will sit, watch, and then complain.
Luck = opportunity plus action.
I disagree.
Luck = Opportunity + Resources + Action
But mostly Action.
Resources on their own get you absolutely nothing. Action is the essential part. I stick to my original remark:
Luck = opportunity plus action.
The people who gain nothing will be those who do nothing.
That is important, yes.
There is a lot of talk about people just sitting around and not doing anything and then will complain about not reaping from AC2017. The fact of the matter is a lot of people do not have the means to even bring their entrepreneurial ideas to life. To reap the benefits they have to have the resources to start something.
This story is a prime example. A millionaire can start a business and he will make more millions, while the average person on the street cannot just start up a business at the drop of a hat, or build a giant hotel, or erect a plush AC2017 village in Dockyard.
Yes, there will be opportunities for regular Bermudians to claim some of the money from this event. It will help our island. But do not delude yourselves and disbelieve that the lion’s share will go to the people who have the money and apparently have the power.
It is often said that a rising tide lifts all boats. But what about the people that don’t have a boat to begin with? I guess they will have to continue treading water…
Ah. So we’ve moved from “I want a job” to “I want someone to give me a million dollars so I can start some kind of business”.
Most people will not on their entire life raise $300m and build a hotel. But does that mean no one should do it?
QBB: You are your own resource.
Correct, I am my own. But some people have nothing…
And if they are able to get jobs, they will have something.
I agree with a major portion of your comments Quinton.
And don’t forget the boat needs upkeep and you can only “continue treading water” for so long and then………………….