Generally, the venue pays the event to be there either through direct monies and/or construction and/or waved permits/fees, security, staffing, etc.
SA suggested bermuda got the shaft: (as did San Fran if i recall)
loser vuitton
All sporting competitions have losers, but the America’s Cup has more than most. For the Bermuda America’s Cup, we’re not sure yet just who the biggest loser is, and while it will take some time (and some numbers) to figure out just whose butt is bleeding the most, we’ve got our ideas: Is it Russell Coutts, who lost his first-ever America’s Cup after winning 6 of them as either CEO or Skipper, while picking up a reputation as one of the worst event administrators in the history of the Cup?
Or perhaps it’s Bermuda, where a funereal pall has descended on an island that was promised so much by Russel and his minions and is now left with nothing but a huge bill, terrible TV ratings, a giant new events center in a country that doesn’t have enough inhabitants to attract big events, and a July election that will likely see the AC-friendly government out on its butt. Is it Franck Cammas, who has all but promised that his sponsors will not spend the money to go to New Zealand? Or is it Jimmy Spithill, who was not just beaten around the course, but beaten at his own game – the starting box, and the press conference – by a kid who was sailing on the Youth team just four years ago?
Actually, the biggest loser might just be the folks at Louis Vuitton, and as you can see in this photo from the final awards ceremony, the new holders of America’s Cup don’t like their overpriced bags at all. That’s tens of thousands of dollars of ugly-butt Louis Vuitton “prize†duffels being launched into the crowd by ETNZ seconds after receiving them from some functionary, and with Prada now the Challenger of Record, it’s safe to say that the next America’s Cup will be the first in a very long time where Louis Vuitton ain’t on the event sponsor list, the guest list, or any other list. Good news for tennis, golf, and motor racing though – give LV a call folks – they’ll have some spare sponsorship money laying around now!
Photo courtesy of Richard Hodder/Emirates Team New Zealand
