Hashtag: #ACEconomy
America’s Cup Economic Impact Forecast
[Written by Don Burgess] The economic impact of the America’s Cup could be bigger than originally forecast, according to Minister of Economic Development Dr. Grant Gibbons. The impact assessment by the Bermuda America’s Cup Bid Committee, released in October 2014, projected an economic impact of $242M for the island. Of that, $94.1M [38.9%] was... Read more of this article
Dr Gibbons On $25M AC Sponsorship Guarantee
[Written by Don Burgess] Bermuda has so far earned back more than $5 million of the $25 million sponsorship guarantee to the America’s Cup Event Authority. Dr. Grant Gibbons, Minister of Economic Development, told Bernews that Government was well on its way to clawback the sponsorship money as part of the deal for the America’s Cup. Bermuda can... Read more of this article
Uber Super Duper Wins AC Trophy Contest
Local creative studio Uber Super Duper won the America’s Cup competition to design a trophy for the winner of the Louis Vuitton America’s Cup World Series Bermuda event. Sami Lill, founder and creative director of Uber Super Duper conceived the winning design. With any array of locally sourced materials, Mr Lill worked with a diverse team of local... Read more of this article
Advertising Restrictions For AC World Series
A protective order has been issued restricting specific forms of unlicensed advertising that would “unfairly exploit” the America’s Cup World Series Event to be held this weekend, with the Ministry saying the restrictions are required to “protect the commercial interests of the America’s Cup Event Authority and any of its designated... Read more of this article
XL Catlin: America’s Cup Insurance Partner
XL Catlin and the America’s Cup Event Authority [ACEA] have agreed a global partnership that sees XL Catlin being named the Official Insurance Partner of the 35th America’s Cup and the Presenting Partner of the America’s Cup Volunteer Program. “We’re delighted to welcome XL Catlin to the America’s Cup family,” said Dr. Harvey Schiller,... Read more of this article
America’s Cup Delivery: Oleander Braves Storm
Last weekend Bermuda’s shipping community were put to the test when delivering vital infrastructure for the Louis Vuitton America’s Cup World Series. Hurricane Joaquin forced the MV Oleander, loaded up with 43 forty-foot containers for next week’s event, to delay her departure from New York. The cargo she was delivering included AC45F catamarans... Read more of this article
35th America’s Cup Economic Impact Report
According to the Potential Economic Impact [PEI] assessment released by the ACBDA, the direct spending on-island for the America’s Cup is estimated to be “in the region of approximately $250 million.” The ACBDA said, “The document was prepared in October 2014 by the Bermuda America’s Cup Bid Committee and summarises the review... Read more of this article
PAC To Meet: Public Funding For America’s Cup
The Parliamentary Standing Committee on the Public Accounts will conduct a Public Hearing on Thursday [April 23] where they are expected to deliberate on matters relating to public funding for the America’s Cup. A spokesperson said, “The Parliamentary Standing Committee on the Public Accounts will conduct a Public Hearing on Thursday, 23rd April... Read more of this article
America’s Cup Changes Approved: Majority Vote
The America’s Cup teams have agreed to make changes aimed at significantly reducing costs for the 2017 America’s Cup, with the organisers saying the rule changes “were passed by a majority vote of the Competitor Forum, comprising the six teams.” Central to these changes is the introduction of a new America’s Cup Class – a wing-sailed,... Read more of this article
AC Teams To Vote On Cost Cutting Measures
The six teams entered in the America’s Cup will vote this week on whether to adopt a new America’s Cup Class that will significantly reduce costs. “The new America’s Cup Class under consideration is a wing-sailed, foiling catamaran between 45 and 50 feet,” according to the America’s Cup website. “The boat would make its... Read more of this article
America’s Cup: Smaller Boats To Reduce Cost
The competitors and organizers of the 2017 America’s Cup are planning to implement a series of rule changes to dramatically reduce team operational costs, primarily by racing in a smaller boat. “After reviewing prototypes of the new AC45 sports boats being tested on the water over the past several months, it is clear that if we raced smaller boats... Read more of this article
America’s Cup Boat Seized By U.S. Marshals
In response to a lien filed by a fired sailor, U.S. Federal marshals seized America’s Cup champion Oracle Team USA’s prototype boat in San Francisco yesterday [Mar 8] before it could be shipped to Bermuda, the Associated Press reports. The AP’s report said the marshals went to the team’s base in San Francisco and “determined... Read more of this article
