Dubai: In a joint initiative by the Defender, San Francisco's Golden Gate Yacht Club and the Challenger of Record, Italy's Club Nautico di Roma, a draft of the Protocol rules for the 34th America's Cup was sent to the challenging teams yesterday.
Foremost among its innovations is a structure designed to allow funds and assets to transfer from one America's Cup to the next.
The draft has been described as a "listening and living" document and teams have been invited to comment and contribute to its final form.
The draft follows an already unprecedented level of co-operation with the Challenger of Record and a dialogue with potential teams. It offers another chance for input before the America's Cup protocol is finalised and published by August 31.
"This has been a painstaking process, but we believe it sets out a new deal for the America's Cup and fairplay for all teams," said BMW Oracle Racing CEO Russell Coutts.
"It also incorporates the vision of the Cup held by Larry Ellison and BMW Oracle Racing.
"To create a fair playing field we plan to issue all of the event rules before the end of the year, and this is a significant first step in that direction.
"Teams will know exactly what they are signing-up to," Coutts said.
Potential participating teams have been seeking a neutral race management body, wide-ranging powers to the jury, cost-cutting measures, a sustainable and long-term business model, and added value for sponsors and business partners.
Potential participants have also asked for an initiative to transform television and media output as the key elements to be included the 34th America's Cup.
The Protocol will cut costs by reducing racing crews.
Dates
Key dates (as announced at the joint Defender and Challenger of Record Press Conference on May 6, 2010):
- Protocol for the 34th America's Cup will be issued by August 31
- Design rule to be released by September 30
- Race rules to be published by December 30th
- Challenge Period open from October 1 to January 31
