Reading a new biography of Roger Federer recently I came upon a passing reference to the America's Cup. The author, Christopher Clarey, tennis correspondent for the New York Times, was describing the keen worldwide interest in a 2008 French Open showdown between Federer and Rafael Nadal.
Clarey wrote, "Ican still close my eyes and see Larry Ellison, the American billionaire software mogul, taking his seat a few minutes before the final," then mentioned Ellison was "one of the world's wealthiest men, capable of buying a Hawaiian island or of dropping hundreds of millions of dollars in pursuit of yachting's increasingly peripheral America's Cup ... "
"Peripheral"? What does he mean? Peripheral to the world of glamorous sport and the global brands and tycoons who find it profitable or exciting to sponsor? Is that how the America's Cup is seen by a globe-trotting tennis writer?
He has also covered the America's Cup. Hasn't he noticed what has happened since it became New Zealand's cup? The foils, the television graphics, the technology on board, and now the aspiration to match Formula 1 motor racing.
Sadly, he must know, and it hasn't changed his view. The hard truth is, the America's Cup probably needs to leave New Zealand. It is bigger than us. It has been a boon to our boat builders and associated industries and a joy to behold the racing here. But we have more to gain now by letting it go than by keeping it here.
Not that we have a choice. Team New Zealand is a private enterprise and the Cup is effectively its property for as long as it can beat all challengers. The fact that it sought and received public funds to keep it afloat between events was always regrettable in my view.
But arguably the public has received fair value in the form of fun provided and the amenities left on Auckland's waterfront. Let's not count the estimates of revenue generated for marine services and hospitality industries, those are of dubious economic value if the event depends on a continuing subsidy.
The America's Cup at its Royal New Zealand Yacht Squadron home. Photo / Brett Phibbs
Following the successful defence last summer, it should not have come as a complete shock that Emirates Team New Zealand is looking for richer pastures to play in. We'd noticed the black boat did not bear the words New Zealand this time and when victory was imminent the syndicate had poured cold water on plans for a civic parade.
Clearly the quest for richer pastures is not as straightforward as ETNZ might have imagined. The next host city was going to be announced last September. We're still waiting for it. We're told to expect it sometime before the end of March.
In the meantime, we receive rumours that it's going to be Barcelona, or Cork, or Jeddah but Peter Burling and Blair Tuke, slow to re-sign for the 2024 defence, are said to have found a Saudi venue too oily for their new environmental enterprise. All we do know is that no amount of money will keep the Cup in New Zealand. Syndicate boss Grant Dalton had not the slightest interest in the assistance of a wealthy Aucklander, Mark Dunphy, who was confident he could raise sufficient finance for another defence here. Dalton's response exceeded even his previous standards of antagonism and suspicion.
While we were following that saga of claims and threats and pressure on the NZ Yacht Squadron, in whose name the Cup is held, nobody mentioned the elephant in the room. Or more accurately, the elephants that were not in the room.
Only three challengers could be enticed to come to the America's Cup in New Zealand last year. The reason was not the pandemic — entries closed long before anyone had heard of Covid-19. The hard fact of life is that we are in a peripheral place. Our location adds enormously to the costs of competing and limits the exposure the event needs.
So good luck to ETNZ when it finds a venue where the event can regain more participants, profile and prestige. The team will continue to carry our nationality and the reputation the America's Cup has given this country for innovation, design and sailing prowess.
The Cup's departure might do local sailing no harm. The sport that sent our first cheeky challenge to Fremantle all those years ago does not seem to have flowered under the Cup's presence here. Our sailors had a disappointing Olympics last year.
Glimpses of the Sydney to Hobart race this summer made me wonder: why do we not see something similar around our coasts at this time of the year? There is more to life than the pursuit of even the grandest prize.
