Simmer predicted the massive foils on the new design would weigh 1.2 - 1.5 tonnes each. Read more
Instead of delivering a return of $1.20 to $1.80 for every dollar spent, Market Economics instead predicted it would deliver between 0.997c and $1.14.
Auckland Council voted on Thursday to extend and develop three areas around the Wynyard Basin on the central city's waterfront at a cost of about $140 million.
"It's not a fee to host an event, an appearance fee, a royalty or anything like that. It's to run the actual event and all the logistics," Dalton insists.
At the core of TNZ resistance is their belief they are a team, not a collection of individuals in which one person is more important than another, Yachting New Zealand chief executive David Abercrombie said.
“For every $100 invested by Government in producing the event, Bermuda received $500 or more than $500 in additional spending that wouldn’t have happened unless Bermuda had actually hosted the America’s Cup."
Design team leader Dan Bernasconi wouldn't put a figure on it, but insisted if Dennis was right, ETNZ "haven't got a hope" of defending the Cup.
Conner says that ETNZ don't want a lot of teams, just high calibre ones, and hence the high price tag.
Government minister David Parker reavealed that Team NZ were asking for a 'significant' hosting fee as Cup defenders, on top of their infastructure expenses.
The cluster of bases on Halsey Wharf, Hobson Wharf and Wynyard Wharf East is the council’s preferred option to take into further discussions.
Tom Slingsby and Ben Ainslie have both posted positive comments about the radical foiling 75 footer.
An underlying principle of the fully foiling craft has been to provide affordable and sustainable technology ‘trickle down’ to other sailing classes and yachts.
Team New Zealand's preference to have all the syndicate bases on one site would involve extending Halsey Wharf 220m into the harbour and cover 3ha of water space between Princes and Wynyard wharves.
Councillors will be briefed on up to six options, including a proposal for a 3ha extension of Halsey Wharf for as many as 10 bases.
Simmer will take responsibility for the sporting and performance side of Land Rover BAR alongside Team Principal Ben Ainslie.