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Discuss this article (4 Comments)RAK's America's Cup spending put at $120m
by This email address is being protected from spam bots, you need Javascript enabled to view it on Wednesday, 14 October 2009
RACE SPENDING: Ras al-Khaimah has spent more than $120m on infrastructure for the America's Cup race.
Ras al-Khaimah has spent more than $120m so far on infrastructure in preparation for its hosting of the America's Cup sailing race in 2010, a senior official in the UAE emirate has said.
The investment total was revealed in a court filing in a New York court by Khater Massaad, the CEO of the Ras al-Khaimah Investment Authority.
He filed a brief in the US to counter claims by US America's Cup challenger BMW Oracle Racing that the emirate was not a safe venue for the race because of its proximity to Iran.
In the document, Massaad said the emirate had spent more than $120m on infrastructure, much of it since the August 5 venue announcement.
Massaad wrote that the emirate was safe and had the infrastructure to host sailing teams BMW Oracle Racing and defending champion Alinghi of Switzerland.
The friend of the court brief filed with the New York State Supreme Court was in response to BMW Oracle Racing's motion asking a judge to reject Ras al-Khaimah as the port for the best-of-three showdown beginning February 8.
"If we perceived even the slightest threat to the security and success of the 33rd America's Cup, we would not have pursued this opportunity, as RAK stands to lose the most were there to be any disruption to the event," Massaad wrote in the brief.
In its motion filed October 2, BMW Oracle Racing cited "grave safety concerns" for its US-based crew that would be sailing within miles of Iran.
Justice Shirley Kornreich has set a hearing for October 27 on the venue issue and ongoing rules squabbles between the rivals.
Massaad said RAK officials were "surprised and offended" by BMW Oracle Racing's "attacks".
READERS' COMMENTS
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read the deed
Posted by james, boxborough, usa on Friday 16 October 2009 at 05:12 UAE time
if you all spent the time to read the americas cup deed of gift you would realize ras al-khaimah is not a allowed as a venue. the deed of gift reads. "The Challenging Club shall give ten months' notice, in writing, naming the days for the proposed races; but no race shall be sailed in the days intervening between November 1st and May 1st if the races are to conducted in the Northern Hemisphere; and no race shall be sailed in the days intervening between May 1st and November 1st if the races are to be conducted in the Southern Hemisphere." feel free to look it up...
maybe this is not clear but if SNG can not understand this they should not be racing........
Posted by james, boxborough, usa on Friday 16 October 2009 at 05:12 UAE time
if you all spent the time to read the americas cup deed of gift you would realize ras al-khaimah is not a allowed as a venue. the deed of gift reads. "The Challenging Club shall give ten months' notice, in writing, naming the days for the proposed races; but no race shall be sailed in the days intervening between November 1st and May 1st if the races are to conducted in the Northern Hemisphere; and no race shall be sailed in the days intervening between May 1st and November 1st if the races are to be conducted in the Southern Hemisphere." feel free to look it up...
maybe this is not clear but if SNG can not understand this they should not be racing........
Buoy's and Boats
Posted by Uffa Fox, Dubai, UAE on Thursday 15 October 2009 at 07:49 UAE time
The "America's" cup has become more like a soap opera over the series sine the Yanks lost being the Host nation where year after year they spent vast sums of money to ensure the humiliation of other entries - then oops they were beaten - Horror of horrors how could this happen - the private tea party was over.
Before the event the American "team" have cried "foul" on other entries - must be part of the strategic - Mind you it does seem odd that the last series was won by a land locked country. Maybe its time to change the name of the competition. If the American Yachting federation (or whatever its called) want to have an American competition -get on with it. but don't have a tantrum when you don't get your own way in International competition.
Mr Lipton what did you start!!!!!
Posted by Uffa Fox, Dubai, UAE on Thursday 15 October 2009 at 07:49 UAE time
The "America's" cup has become more like a soap opera over the series sine the Yanks lost being the Host nation where year after year they spent vast sums of money to ensure the humiliation of other entries - then oops they were beaten - Horror of horrors how could this happen - the private tea party was over.
Before the event the American "team" have cried "foul" on other entries - must be part of the strategic - Mind you it does seem odd that the last series was won by a land locked country. Maybe its time to change the name of the competition. If the American Yachting federation (or whatever its called) want to have an American competition -get on with it. but don't have a tantrum when you don't get your own way in International competition.
Mr Lipton what did you start!!!!!
RAK's America's Cup spending put at $120m
Posted by Neil on Thursday 15 October 2009 at 06:14 UAE time
As Valencia found out, how much money the venue spends has no bearing on the Deed if the issue is not Deed legal. GGYC statement is and has been in over 6 letters to SNG that RAK is not Deed legal. The other items are secondary issues for GGYC that seem to be the primary issues for others. Also, lets not forget that SNG has used the UAE to train in before as well so who knows what their strategy is with locations and backups.
If RAK has been able to spend $120M in 2 months which is highly unlikely looking at the work they have done, they should take it up with SNG the Defender as they have sole responsibility for the venue choice. When/if the Defender is found at fault as has been 6 out of 7 cases before the NYSC, RAK should go after SNG but maybe like Valencia they will realize they got sold a bill of bad goods which seems to be SNG track record in and out of the courts.
Posted by Neil on Thursday 15 October 2009 at 06:14 UAE time
As Valencia found out, how much money the venue spends has no bearing on the Deed if the issue is not Deed legal. GGYC statement is and has been in over 6 letters to SNG that RAK is not Deed legal. The other items are secondary issues for GGYC that seem to be the primary issues for others. Also, lets not forget that SNG has used the UAE to train in before as well so who knows what their strategy is with locations and backups.
If RAK has been able to spend $120M in 2 months which is highly unlikely looking at the work they have done, they should take it up with SNG the Defender as they have sole responsibility for the venue choice. When/if the Defender is found at fault as has been 6 out of 7 cases before the NYSC, RAK should go after SNG but maybe like Valencia they will realize they got sold a bill of bad goods which seems to be SNG track record in and out of the courts.
Take it from whence it comes
Posted by John, Dubai, UAE on Wednesday 14 October 2009 at 13:58 UAE time
This is a robust response to totally unsportsmanlike litigation on the part of the Ellison mob, who think that having big stinkpot private yachts entitles them to decide simple matters about where a sporting event should take place.
Massaad is also on the money when he says RAK would not have done this lightly, knowing the risks. It is the Israel connection here that is doing the talking, but sport will win in the end and RAK will prevail.
Posted by John, Dubai, UAE on Wednesday 14 October 2009 at 13:58 UAE time
This is a robust response to totally unsportsmanlike litigation on the part of the Ellison mob, who think that having big stinkpot private yachts entitles them to decide simple matters about where a sporting event should take place.
Massaad is also on the money when he says RAK would not have done this lightly, knowing the risks. It is the Israel connection here that is doing the talking, but sport will win in the end and RAK will prevail.
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