America's Cup: Event organisers slash Entry Fees and Performance Bonds

8:05 PM Wed 15 Dec 2010 GMT

'34th America’s Cup - Ian Murray and Richard Worth announced the big reductions in the Performance Bond and Entry Fee for the 34th America’s Cup' BMW Oracle Racing &copy Photo Gilles Martin-Raget Click Here to view large photo

The 34th America's Cup organisers have announced significant reductions in both the entry fee and the performance bond requirements over three months ahead of the closing date for entries. The moves announced at the World Racing Forum in Portugal have slashed the entry free by over a million US dollars (previously set at E1million or USD1.3million) payable in April 2012. However the currency of the Entry Free has now changed completely to US dollars and where the Entry Fee was payable in April 2012, it is to be paid in June 2011 - ten months earlier, but the amount is ...

Click here for full story.

by Richard Gladwell