Editorial: Spain sailing away with America's Cup hosting deal

Emirates Team NZ helmsman Peter Burling sprays his teammates with champagne after defeating Italy's Luna Rossa in 2021. Photo / Chris Cameron, Photosport via AP

EDITORIAL:

Money talks. History has taught us that.

Around 1588, Spain outlaid 10 million ducats to raise an armada to invade England - the equivalent today of $2 billion. Four hundred and thirty-four years on, the Iberian Peninsula has once more raised the stakes to attempt dominance on the seas.

Yesterday, following several days of confident predictions, it was announced the 37th America's Cup will be held in Barcelona.

After defending the Cup in Auckland a little over a year ago, Team New Zealand and the Royal New Zealand Yacht Squadron will stage the event in September and October 2024 on the other side of the world.

Spain reportedly doubled its chances of hosting the Cup by doubling its offer. In a similar arrangement to Auckland's hosting deal, the Catalan government was joined in the bid by the Barcelona City Council.

Spanish media yesterday reported the Catalan government had thrown its weight behind the bid in an all-in attempt to boost a tourism industry hit hard by the Covid-19 pandemic.

Together, the bid was given an all-but blank cheque when the Catalan Department of Business and Employment was authorised to "undertake the necessary actions to promote the Catalan capital" to the cup holders.

It hasn't been revealed how much the final bid was, but it would make the $99 million Team NZ rejected from New Zealand appear small beer, particularly given most of that offer was "in kind" rather than hard currency.

The Barcelona bid was also boosted by counteroffers from Malaga, Cork in Ireland and Jeddah in Saudi Arabia. While being a sentimental favourite, Auckland was a non-starter. Even Malaga offered $22 million more than New Zealand.

The deal has looked inevitable for days leading up to the announcement. Team New Zealand boss Grant Dalton was in Barcelona - Spain's second-largest city and capital of the Catalonia region - last week to view facilities ahead of the defenders' decision.

The Barcelona regional government said initial estimates suggested hosting the America's Cup in the Mediterranean city would have an economic impact of up to $1.4 billion.

While much commentary will be around New Zealand and Auckland's loss, some focus should be fixed on what has been gained. Auckland's waterfront developments were fast-tracked to host the regatta in 2021. Kiwi sailors enjoy a world-class status, almost as a birthright.

With apologies to the French, "sail" la vie. It is what it is. Or, more appropriately, as a Catalan would say: "És el que és."

Still, it seems hard to believe that the next America's Cup might be sailing into even more difficult times than the pandemic-plagued staging in Auckland. Spain is also a member of Nato, an alliance that could yet be drawn into the Russia-Ukraine conflict.

As the Spanish Armada found in August of 1588, the best sailing endeavours money can buy still have to contend with weather, inexperience in essential positions and, potentially, conflict.

That said, we wish the Spanish every success with hosting our Cup and hope they enjoy it as much as we have.