
08-07-2008
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Senior Member
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Join Date: Feb 2006
Location: New Jersey
Posts: 4,509
Rep Power: 7
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America's Cup - Court Ruling !!
Oracle gets heave-ho in America's Cup
Hold those giant catamarans just a minute, you bickering billionaires.
The America's Cup appears to be headed away from a rare one-on-one showdown between American and Swiss crews and back to its traditional multichallenger format following a ruling by a New York appeals court on today that went against a San Francisco yacht club that backs Silicon Valley maverick Larry Ellison.
In the latest 180-degree turn in a yearlong court fight, the New York Supreme Court's Appellate Division ruled 3-2 that Spain's Club Nautico Espanol de Vela should be the Challenger of Record, giving it the right to negotiate terms of the next regatta with the America's Cup holder, Alinghi of Switzerland.
The ruling, issued by the New York State Appellate Division, reversed a lower court's ruling declaring a challenge by the Spanish club, Real Federation Espanola de Vela (CNEV), invalid in favor of a challenge by the U.S.-based BMW Oracle.
The challenger of record is able to name the type of boat to be used for the race.
"We are surprised and disappointed by this ruling. We will now be taking legal advice and considering the next step," Tom Ehman, spokesman for the Golden Gate Yacht Club, which sponsors BMW Oracle, said in a statement.
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S/V Scheherazade
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I had a dream, I was sailing, I was happy, I was even smiling. Then I looked down and saw that I was on a multi-hull and woke up suddenly in a cold sweat. To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
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