America's Cup, Alinghi's withdrawal and negotiations for the future of the Cup

The news of the last few days is that Alinghi Red Bull Racing will not be launching the challenge for the next America's Cup, in other words 'withdrawing'. Ernesto Bertarelli had been very clear at the end of last year's edition: there were not enough sailors with a Swiss passport to race such a complex boat. And as in every defeat, the dance between designers, builders, crew began. The boat suffered several breakdowns, the breakage of two masts and a catastrophic take-off after the end of racing during a last show for the sponsors' guests, who were satisfied even after the elimination.

Alinghi's performance did not live up to expectations, whoever is to blame the crew proved to be inexperienced several times. Or rather, it is not enough to be good sailors to fly AC75s. So for Bertarelli, the request to have foreigners on board has become fundamental: "Without foreigners on board, I don't race," he had said again in Barcelona. For him more so than for Luna Rossa and American Magic, which in any case could have some news from a freer market.

After the Barcelona regattas between the challengers and the defender Emirates Team New Zealand, for all in the person of Grant Dalton, the Ceo and father owner of the Cup, complex negotiations for the Cup's future have therefore begun. Numerous issues are on the table: nationality of the crews, visibility of the teams that have been hastily excluded (such as Orient Express and Alinghi, which have competed a minimum number of races), organisation of the event.

Dalton, it is said, actually seems to have been quite cooperative and two important points emerge. He would allow two foreigners per boat, which could be the two helmsmen (who then teach everyone what to do) and from the next edition of the Cup the move to a sort of 'collective' that would include Alinghi and American Magic as promoters. In return, of course, a lot of money secured to cover the event. In other words, it could almost seem like a sort of sale of the event. The deal, if the reports filtered through so far are true, did not seem so bad for the Kiwis, apart from some possible problems in the interpretation of the mythical Deed of Gift, which would probably have required an intervention of the New York Supreme Court.

Negotiations went on in several meetings between challengers and defender until Ernesto Bertarelli's withdrawal and then Alinghi's almost closed negotiations would have added something. Now, the show is creaking: only Luna Rossa remains as a sure challenger (but then how much?), with a big question mark for American Magic. And then? The challenger of record Athena Racing has no money, Ineos (which had split from Ben Ainslie) will not launch the challenge. Orient Express, after a low budget challenge, cannot find the high budget to make a good impression. The Swedes of Artemis, who had been talked about, will limit themselves to the AC40s, if the circuit takes shape, where a second Italian team wanted by the Veronesi family (Oniverse Group, formerly Calzedonia, which owns the Cantiere del Pardo) with young sailors could participate. This is good news, if radio quayside tells it right.