America's Cup: Significant changes for Teams on formats and finance

5:19 AM Wed 1 Jun 2011 GMT

'34th America's Cup will be sailed in 72ft wingsailed multihulls - for which a prototype design AC45 are being sailed in the America's Cup World Series. The AC45 will now be used until July 2012 in the ACWS' Gilles Martin-Raget/www.americascup.com Click Here to view large photo

America's Cup organisers have announced significant changes to the structure of the event and its preliminary, the America's Cup World Series. The smaller AC45 design will stay in use for the America's Cup World Series for a longer period, and the cut-over the larger AC72, to be used in the America's Cup itself, has been delayed. Requirements for the payment of the first Performance Bond have been eased and replaced with a requirement to commit to the purchase of an AC45 yacht within the next 10 days. Teams have effectively been given another three months for AC72 construction, with the ...

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by Richard Gladwell