Australia's C7 syndicate moving to China (04/18/04)
 (source : Sail World)

According to the Australian website Sail World, the "anonymous South/West Asian based syndicate" in Valencia is the former Melbourne's C7 Syndicate.

C7 Syndicate Head Kristine Condell was heard saying that the syndicate is now Asian based, China. "... As there was some contacts thru our other businesses that came forward when we said that we would not be doing their regular business and we were going to be doing the next America's Cup".

The fall-out of C7 in Australia saw the announcement last week of Simon Reffold (General Manager Sailing) resigning from the syndicate.

"Unfortunately the C7 Syndicate will never be able to deliver what I originally thought it would", said Mr Reffold. "I am not sure of the C7 Syndicates current position on many areas such as Sailing, Location, Design, Construction and Finances".

 
- Three Australian teams are trying to be there (12/17/03)
  (source : Cheryl on 2003ac Forums)

Over the weekend Martin Tasker (TVNZ) reported that of the three potential Australian challengers, two had made enquiries about leasing NZL-60 and NZL-57 from Team NZ. If the challenges go ahead the syndicates are interested in training and working their campaigns up from the Viaduct Harbour in Auckland.

One of them should be the project representing the Royal Melbourne Yacht Squadron which is henceforth named "C7 Syndicate" (like the Australian sports channels Seven Network's C7 ?). Kristine Condell, C7 syndicate CEO, said the team will not make a final decision either way on the bid until March 1, 2004.

"We needed to treat this as if we were going to do a fund raiser for a merger or an acquisition and that’s exactly how we started out", she said. "We put budgets together, feasibility studies – created what I believe is a credible business plan. And from there we’ve started talking to sailors and designers."

On the other hand, it was not disclosed if the second one is the Destremau's Ozboyz Challenge, the only official candidate so far. Or a third project which could be the new team evoked by Syd Fisher (who has organised teams for the past five challenger series).

 
- $150m Aussie cup plan (09/03/03)
  (source : Sunday Times)
The Royal Melbourne Yacht Squadron wants to lead a $150 million challenge to win back the America's Cup in 2007.

A Sydney syndicate of business high-flyers is behind the plan, with Royal Melbourne confirming it is in talks to be the campaign flagbearer.

Royal Melbourne chief commodore Alan Saunders said yesterday a successful challenge against the Swiss titleholders would mean the 2011 America's Cup would likely be held outside Port Phillip Bay. Mr Saunders confirmed the squadron was negotiating with the Sydney group to run the campaign from his St Kilda pier headquarters.

"We are in discussions with a syndicate to launch an America's Cup challenge. We are extremely optimistic about the outcome," he said. "We believe that it will definitely be in Melbourne. We believe that we are the preferred site".

"We see it as a very good thing for the state of Victoria. And extremely positive. And I'm really excited about the prospect."

The State Government and Victorian Major Events Company was told of the proposed bid yesterday. Government sources doubted any taxpayer money would go into the bid.

Kristine Condell, chief operating officer for the as yet unnamed syndicate, said it was about four days away from formally announcing the bid. Its budget would be $150 million and $10 million had already been pledged by a sponsor. The bulk of the bid's money would come from corporate sponsors, including overseas sources.

Ms Condell said the squadron would not be required to contribute money but provide professional advice and the location for trials.

"The reason we wanted the burgee (flag) of the Royal Melbourne Squadron is that the squadron happens to be a sailing squadron as opposed to a quasi-social squadron," she said. "We felt that we would have a better quality of support in terms of sailing advice.

"It's a sailors' club. That was why I approached Alan (Saunders) and they embraced it straight away."

She said three people headed the syndicate, including herself and John O'Neill, a Sydney businessman who until recently was principal dealer at Heartland Holden in Parramatta.

Mr O'Neill said the syndicate had had talks with several states and Melbourne had shown significant interest. "We haven't got a fixed view on trials but certainly there would be a heavy sailing involvement in Melbourne," he said.

Ms Condell, a former corporate headhunter and dot-com entrepreneur, claimed the proposed bid was "a long way down the track" and refused to name major syndicate backers.

"Eventually it would be 108 people or something. Quite a substantial amount of people," she said. Major Events chief Steve Vizard said he would need a properly outlined proposal before making any assessment.

"We're in early days", Mr Saunders said. "We have to raise the money, get the support from government and issue the challenge. The challenge has to be in by December." .