Video: America’s Cup Documentary Part #8
“Hosting the America’s Cup required a considerable investment by the Bermuda government, something that needed to be weighed up – the risk vs. the reward, and then setting reasonable expectations within the community about the returns,” the ACBDA said.
“In Part 8 – Investing in Bermuda, you will hear how, despite all the evidence that the event would pay off, there was a lot at stake and it took a gutsy decision to proceed at a time when the economy was under pressure.
“ACBDA, the government owned agency established to deliver all of Bermuda’s commitments as Host Venue, was held accountable for the benefit of all of Bermuda.
“In this episode of Nine Parts – Bermuda’s America’s Cup Story – hear from those involved, how the 3-year budget and resulting ROI was calculated and how they stuck to the budget.
“Bermuda’s investment wasn’t made in isolation – Bermuda was partnered with the America’s Cup Event Authority and their collective success hinged on building a working relationship that recognised how to make each decision a win-win.
“The corporate community and individuals also invested money and time into making Bermuda’s America’s Cup, the best event ever.”
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Another very informative episode with a definite takeaway that a ‘gutsy decision’ created a ‘win-win’ partnership.
Also, coming out of this is the fact that by using the existing IB business model, and inserting flexibility with legislation, our island through the ACBDA was able to produce a successful world class event template.
This advantage should not be wasted nor belittled. It is a key to the future!