03 June 2014 09:44 PM
Competitors for an at least £50m. assault on the America’s Cup may not even make it to the final shoot-out under the new rules issued months after they were expected for the next event in 2017. Nor do they know where the racing will be staged, but they do know they have to stump up $2m. in entry fees, to be paid in two instalments this year, and find an additional performance bond of $1m. plus guaranteeing to insure all their team members and be responsible for their safety. This is consequential on the death of British gold medallist Andrew Simpson while training with the Swedish challenger Artemis on San Francisco Bay in May 2013.