Sailing: America's Cup blow

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The Independent Online
THE fledgling British America's Cup challenge has come under renewed pressure after a meeting in San Diego of 12 of the 14 1995 challengers voted to impose a second performance bond of dollars 250,000 ( pounds 170,000) to be paid by 1 July, writes Stuart Alexander. This is in addition to the dollars 75,000 raised by the challenge's chairman, Richard Matthews, just hours ahead of the November 1992 deadline.

Britain was not present in San Diego, and also absent was the second New Zealand syndicate, the Tutukaka. Harold Cudmore, speaking for the British syndicate, has said that the prime task is to raise money. Britain would seek to build only one boat and Cudmore said: 'We have the sailors.'

The challengers are determined to press the defending San Diego Yacht Club on a common declaration date for challenger and defender to choose their yachts.

They have also called for a complete accounting report from the Yacht Club de France commodore Francois Carn over the money spent from the residue of 1992 challenger funds when the YCF was appointed sole challenger of record by the SDYC. It is understood that all of the dollars 150,000 plus nearly dollars 50,000 more has been spent, with dollars 90,000 going in three months on travel and entertainment.

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