America’s Cup Bermuda Begins Final Wind Up

March 25, 2018

America’s Cup Bermuda Ltd [ACBDA] said they have “now completed all of its objectives, including a final audit and has now commenced the final wind up proceedings.”

ACBDA Chairman, Peter Durhager, said, “Our Board met for the final time on Wednesday March 14, reviewed the final audit and received final reports both from our CEO, Michael Winfield and our CFO, Andrew Cox.

“They reported that all goals were accomplished, significantly under budget and that the company could now be placed into voluntary liquidation. The Board was unanimous in praising both of the company’s senior officers for their performance throughout the project and wished them well in the future.”

Slideshow of the America’s Cup Opening Ceremony in May 2017


“This was an exceptionally tough project with demanding time frames, a wide group of stakeholders and a skeptical marketplace. With help from many, the ACBDA assisted in creating nine acres of new land on which the America’s Cup Village was constructed, it facilitated the building of team bases, installed the necessary infrastructure, organized transportation to the event, and managed security, utilities, created a unique Wi-Fi structure, serviced significant demands to ensure a world-standard global network broadcast and assisted with the delivery of all of the events both on water and onsite in the event village.”

Mr. Durhager said; “When Bermuda was announced as the host location for the 35th America’s Cup, many stated that Bermuda would not be able to deliver to the required standards. Following the event, praise was virtually universal with many saying that was the best America’s Cup in its 160+ year history. This was a significant accomplishment and we take pride in a job well done.”

He said, “I also must praise our Board who stuck with us throughout, who provided continued guidance, ensured effective and meaningful governance and who never hesitated in reminding us of our primary objective of engaging Bermudians in the America’s Cup experience.

“When we review the research surveys and saw Bermudians praising the event, they also can be proud of our shared accomplishments. Our Board was exceptional, and I know Mike Winfield joins me in thanking them for all their hard work and diligence.”

“There were many, many who contributed to the success of Bermuda’s America’s Cup. We have tried to recognize them following the event and while the attention of the America’s Cup has transitioned to New Zealand, we believe everyone who contributed to Bermuda’s event, will understand that their efforts made the difference in achieving excellence. The America’s Cup has shown what Bermuda can do with events on the international stage, we hope those efforts will lead to continued success in the future.”

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Comments (32)

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  1. A waste of time for Bermudians. Many Bermudians were not employed through oba, so that that money could go towards the flourishing of AC!

    • Zevon says:

      Look at it. Total gibberish.

      • Onion Juice says:

        Special thanks to oba for legislating policies that made it possible to share the public purse to friends and family.

    • Mrs brady says:

      Certain Bermudians decided to boycott and reject the AC in every way, so they didn’t benefit. They effectively cut off their own nose to spite their face. These same easily led fools then voted the fox back into the hen house. Enjoy the demise of Bermuda – the one you voted for.

    • ProudBermudian says:

      I’m a Bermudian who didn’t have a job who was employed by one of the teams. I don’t think it was a waste of time!

    • yagirl442 says:

      I’m a black Bermudian and made over $2,500 by working at the event sooooooo.

      • Onion Juice says:

        But we were told ALL of Bermuda would benefit, so the friends and family circle made tens and hundred thousands of dollars by having the inside track through legislation and you’re gloating about a few grand after we gave over $70 Million. You get a few crumbs after we gave them the bakery.

        • nerema says:

          Well, you had to get off your a@@ and make yourself available for work. No one guaranteed a frikkin handout.
          You lot were all too busy making sure you stayed away to try to make a point. Fine. The rest of us went there and made something out of it. I got work there and made thousands of dollars.

        • Toodle-oo says:

          OJ , you’ll NEVER get over the fact that it was a huge success ,it pumped $335 million into the economy and people who looked like you actually benefited despite your fabrications that it was solely for (white) billionaires !

        • yagirl442 says:

          I’m not gloating i’m stating a fact and the fact is I wasn’t sitting around waiting for a handout from this event. I’m don’t know the numbers but if the island made $1 more then the “$70 million” we gave them then it was worth it for myself and the countless others BERMUDIANS who WORKED the event. Also don’t forget or underestimate all of the coverage Bermuda received by hosting such a event. That coverage alone is worth more than “$70 million” in advertising.

        • wahoo says:

          Oh sorry, you wanted a DIRECT benefit in the form of a handout. People (black and white) who got direct benefit only got that benefit by having get up and go attitudes. You and I will benefit in terms of money that is now circulating here that otherwise would not have been. I did not do anything to get directly involved either but I did enjoy the show and since I did not sleep during economics I understand the financial repercussions that this event has had for Bermuda.

        • Jus' Wonderin' says:

          ya if you got off ya a$$ and applied for it lmfao…you really are a dummy bra no wonder you didn’t get hired HAHAHAHAH

    • Realist says:

      Straightforward, you sound like a total straightforward idiot! Were aliens employed through the AC? Many faces you saw that may not look like the Bermudians you speak of, were actually volunteers. Did you volunteer or do anything to make your self available. Or sit on the sideline and just be a wet rag. At some point being obstinate will only get you locked in your own head, with nothing positive to say about yourself and life.

      • Onion Juice says:

        So you want people volunteer who have no job, but we sponsor an event for Billionairs.

        • nerema says:

          By ‘volunteer’ he means get off your fat lazy a$$ and look for work there, instead of sitting around whining a year later that you didn’t get any handouts.

        • wahoo says:

          So attracting billionaires is bad for tourism??? I sorry I no understand how. If you right only poor people spend money when tourist? Volunteers are good people if you don’t have time to volunteer then that is fine I do not judge.

    • Up D Hill says:

      I made money on AC 35 if you didn’t thats on you. Tell me ! What does the new Government have in the pipeline to create revenue? Because I don’t s#$/ coming!!!

  2. We can now move ahead …Bermuda FOR Bermudians first.

    • bdaguy says:

      How is it For Bermudians first when Burt change the 60/40 rule you tell me how is Bermudian, no one make noise about that if the OBA did evryone would want to hange them

    • hillbilly fred says:

      and with that outlook we will only go backwards, we are part of THE GLOBAL scene

    • Joe Bloggs says:

      “Bermuda FOR Bermudians”

      I see you’ve been reading Mein Kampf and adapted it for Bermuda. Well done!

    • Up D Hill says:

      Really, how mouth ? Pleasd tell us!

  3. Created says:

    Congrats to all involved. You all put on a first class show, that was extremely well organized and well attended.

  4. Point boy says:

    Thanks for a job well done. We needed a “game changer” and you all delivered!
    Bermuda will reap the rewards of this event for all, for years to come.

    • Point boy says:

      Also thanks to Dr Grant Gibbons and the OBA! For making it all possible!

  5. Facts says:

    These guys are full of crap! With the expenses to build Cross Island they actually lost money! Creative accounting to make all involved look good but leaves Bermuda with the cost of build and maintenance. Cmon people get a calculator that works! The very few made the majority of the dollars. Pure and simple. It’s was a party for Dunkley and his ace boys!

  6. Athena says:

    Kudos to all the volunteers, vendors, Bermuda regiment and all involved with the variety of transport, security and entertainment. You all punched above the mark to produce an international event that reflected what we can achieve together.

    The upcoming triathlon is just one of the events from having had the opportunity to show the world we can do it and do it well.

    Thanks ACBDA, Dr. Gibbons, OBA and also ACEA who gave us the world stage upon which to shine!

  7. Connected Community says:

    Thank you to all the wonderful volunteers who served in so many different ways that allowed Bermuda to shine for AC35.

    Our invaluable local volunteers and our willingness to host the world is what helped us move beyond what so quickly divides us in politics and display what connects us to each other and our world.

    This was an amazing event that allowed Bermuda to come together and host this world class event with all the complexity we represent.

    There are many lessons learned that we can take forward into our community and our next large scale event.

    As in all things Bermudian, our politics is only one narrow lens in which to assess our success. We are more than our politics.

  8. Realist says:

    I loved Bermuda during the Americas Cup. It was as if we transposed to a classy dignified island that knew how to show case our uniqueness. We saw a huge upswing in tourism, we saw local business thriving, we saw the taxi and mini buses busy, increases in boat charters, and the entertainment involved so many talented Bermudians. The island was truly another world. Now look at today and the foreseeable future, it looks and feels bleak again. Lots of noise about negativity, and no promise of anything as magnificent as the AC. But I’m convinced in time, many Bermudians will be disillusioned and bitter as they see all the talk and promises will mean nothing without foresight and a reach out to get major events to Bermuda. Good luck to your new government who promises wildly but delivers nothing but debt.

  9. Sara says:

    it’s amazing to me that people continue to bash, complain, and totally downplay the success of the AC. Yet none of those people had anything to say when we lost out big time on PGA golf, faith based tourism, and Beyonce. Let me explain basic math. all of the last three events lost money. The AC made money for Bermuda. That is basic P1 math guys, you really need to get your priorities straight. Jealousy is ugly and it will keep you help back and never let your true potential come through.