Team NZ to be quizzed over trademark money

By ANNE BESTON

A high-powered meeting will be held today over the question of Team New Zealand's use of America's Cup money.

The Herald understands that the New York Yacht Club and Prada's club, Punta Ala, have organised the meeting, to which Team NZ have been invited.

Team NZ spokesman Murray Taylor said the syndicate were aware of the meeting, but did not know details. The two members most likely to attend it, Team NZ chief executive Ross Blackman and rules adviser Russell Green, were not available.

The debate over use of money earned from rights to the America's Cup trademarks has gathered momentum over the past few days with a document doing the rounds of syndicates setting out arguments why challengers should get a slice of cup profits.

The issue has been further complicated by a mystery challenger who asked the New York Attorney-General's office to investigate.

While the defender and challengers are licensed to use the America's Cup symbol, only the cupholder - in this case Team New Zealand - can raise money through its use.

The money raised is used to host the event, but any surplus can be used to run the defender's sailing budget.

For Team NZ, operating in a small economy with limited sponsorship opportunities, money from America's Cup trademarks is a vital part of the defence budget.

No one was laying claim to being the team which made inquiries to the New York Attorney-General.

However, sources told the Herald it was the Swiss Alinghi syndicate - new home to former Team New Zealand skipper Russell Coutts and tactician Brad Butterworth.

Alinghi denied this. Spokesman Bernard Schopfer said Alinghi had not made inquiries to New York but did want the syndicates to get around the table and discuss the issue.

Mr Schopfer said Yacht Club Punta Ala, home of the Prada challenge, had been a key organiser of today's meeting.

Somewhere amid the accusations and secrecy is a discussion paper written by Alinghi rules adviser Hamish Ross.

It is understood to propose changes to the cup management and questions whether the event should be registered as a charitable trust.

One of the suggestions understood to be in the paper is whether there should be transparency in the accounts of funds raised and whether the distribution of any surplus money should go not just to the cup holder but to every team trying to win the cup.

Team NZ could be asked to reveal details of income and expenditure for the 2000 campaign when they beat Prada to retain the cup.

nzherald.co.nz/americascup

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