Please select your home edition
Edition
Lennon Thermalite 728x90 3

America's Cup: ETNZ Board Chair hits back at false allegations

by Richard Gladwell/Sail-World NZ 14 Jun 10:24 BST 14 June 2021
Prime Minister Jacinda Adhern (cetre) with Sir Stephen Tindall (right) ETNZ Chairman, Emirates Team New Zealand launch the world's first AC75, Auckland, September 6, © Richard Gladwell / Sail-World.com

Sir Stephen Tindall, the recently resigned Chairman of the Board of Emirates Team New Zealand has responded angrily to media claims that his retirement is "proof positive" that he does not agree with the direction the team is taking for its fourth Defence of the America's Cup.

The claims first surfaced in the international media over a week ago, and were repeated prominently in a leading and usually authoritative New Zealand business publication in a report on the defence plans for the America's Cup.

Late Monday afternoon Sir Stephen, who took over the Chairmanship when the restructured Team New Zealand Ltd Board was put in place in 2013, issued a written statement which was circulated by the team.

“I can categorically confirm that my retirement from as Director of Emirates Team New Zealand has absolutely nothing to do with the whereabouts of venue for the 37th America’s Cup. I am offended that [person's name redacted], without speaking to me would represent my retirement in such an uninformed manner to suit his own agenda and it would appear that of the [entity's name redacted].

"As a long term director of the team I completely understand the commercial realities of keeping the team operational and funded to be able to defend the America’s Cup and this is the number one priority for the team. The challenges of funding the team are even greater in a Covid 19 ravaged world."

"The decision on venue is related directly to the need to keep the team financially viable but of course it is mine, and everyone else at ETNZs preference to hold the 37th Americas Cup in New Zealand."

"But if the team aren’t able to defend the Cup due to lack of committed funding then the staging of the event becomes something of a moot point.”

Sir Stephen joined as a Director on October 2013, and resigned on June 3, 2021. He has been replaced by leading commercial lawyer and corporate adviser, Greg Horton who was a Board member prior to the 36th America's Cup Defence, when he switched across to be on the Board of America's Cup Event Ltd. Horton is a nominal shareholder of Team NZ Ltd. Grant Dalton has replaced Sir Stephen Tindall as the other nominal shareholder.

A much-publicised meeting will be held at the Royal New Zealand Yacht Squadron Tuesday. It is one of several that have been held from time to time to update the RNZYS membership on the progress of the team as it prepared for AC36. The main topic of the upcoming meeting is expected to be the teams negotiations with the NZ Government and Auckland Council over the financial aspects of the 37th America's Cup and those two parties possible involvement.

In a separate issue some RNZYS members, unhappy with the perceived direction being taken by Team New Zealand, are attempting to garner enough support from the RNZYS members to call a Special Meeting of the club. A special meeting may be called by a group of 25 members, 18 days notice must be given of a special meeting, and it must have a quorum of 50 members.

Related Articles

A new hand on the tiller of Womens Sailing in NZ
2000 Olympic gold medallist Jenny Armstrong is now plotting the course of women's sailing in NZ 2000 Olympic gold medallist Jenny Armstrong is now plotting the course of women's sailing in New Zealand - and she's already leading by example, Suzanne McFadden discovers. Posted on 21 Oct
America's Cup: NYYC - Pause now, tell later
NYYC's decision to "pause its pursuit of the America's Cup" appears to have been taken autonomously The New York Yacht Club's decision to "pause its pursuit of the America's Cup" appears to have been taken autonomously, without reference to Stars+Stripes USA and was leaked to online media several hours before the team was made aware of the decision. Posted on 20 Oct
America's Cup: NYYC 'pause' Cup involvement
NYYC surprised their second challenger team, Stars+Stripes and have paused Cup preparations Just under four months after announcing that they had chosen another team for AC37 in place of American Magic, their team from the 36th America's Cup. Now the New York Yacht Club has "paused" their Cup involvement. Posted on 19 Oct
America's Cup: Valencia Revisited?
A report in the Spanish media indicates that a new bid is in the running for the 37th America's Cup A report in the Spanish media indicates that a new bid from Valencia, Spain is in the running for hosting the 37th America's Cup. Posted on 15 Oct
America's Cup: Big calls ahead for Superstars
Tough calls ahead for Burling and Tuke as they try to balance their 2024 dance card Peter Burling and Blair Tuke announced their arrival back into New Zealand, this week, with a media release making it clear the duo had not re-signed with Emirates Team New Zealand. Posted on 15 Oct
Gladwell's Line: Life in Lockdown Land
In the alternate universe - Planet Cherub - it is great to see the Lockdown being put to good use In the alternate universe - Planet Cherub - it is great to see the Lockdown being put to good use, where the home-build virus seems to be running amok. Fortunately no vaccination is available, and frankly the more who catch it the better. Posted on 12 Oct
Start of a 35yr America's Cup dynasty
New Zealand's now 35 year America's Cup dynasty began October 5th 1986 on Gage Roads, Fremantle New Zealand's now 35 year America's Cup dynasty began October 5th 1986 on Gage Roads, Fremantle, when KZ-7 faced Heart of America in Race 1 of Round Robin 1 in the 1986/87 Louis Vuitton Cup. Posted on 5 Oct
America's Cup: INEOS Britannia announce line-up
America's Cup: INEOS Britannia reveal their Formula 1 and America's Cup line up INEOS Britannia, the Challenger of Record for the 37th America's Cup have announced their design and management team lineup at a live broadcast from Mercedes-AMG Petronas F1 team's headquarters at Bracknell UK. Posted on 4 Oct
America's Cup: Two F1 teams set to enter AC37
Sail-World understands that two F1 teams are set to partner up with challenger teams for AC37 Sail-World understands that two Formula One teams are set to partner up with challenger teams for the upcoming America's Cup. Posted on 4 Oct
America's Cup: American Magic's defining moment
American Magic's capsize on Day 3 of the Prada Cup was one of the unforgettable moments of AC36 In this new video, American Magic's skipper Terry Hutchinson and others share their memories of the campaign-defining mark rounding and subsequent events, at the end of the penultimate leg of Race 3 of Round Robin 2 of the Prada Cup. Posted on 3 Oct