Yachting: Gold in bank, time for the Cup

By SUZANNE McFADDEN

Olympic gold medallist Jesper Bank has changed tack and decided to venture into the cut-throat world of the America's Cup.

Denmark's sailing superstar yesterday signed up with the Swedish Victory Challenge to sail in Auckland for the 2003 Cup.

Bank, the world Soling matchrace champion and gold medallist at the Sydney Olympics, was initially not interested in the Cup.

"What made me change my mind and join Victory Challenge is that it's not all about committing myself to sailing," he said.

"I'm also going to be part of the management group for the syndicate and I will be able to influence the design of the boat, and the recruits.

"It will be just as interesting for me if I'm skipper, helmsman or tactician."

At this stage, Bank has no idea which he will be.

The task of steering the boat is up for grabs between himself, campaign manager Mats Johansson and top Swedish matchracer Magnus Holmberg.

Bank was also impressed by the syndicate's healthy bank balance.

"I would not have agreed to this either if it were a financially uncertain project," he said.

"The financing has been secured very satisfactorily, in a way that almost no other syndicate can claim."

The Swedes, who are training in the former Team New Zealand boat NZL38, have yet to officially enter the Cup.

Yesterday the German syndicate Illbruck Challenge had their entry accepted by the Royal New Zealand Yacht Squadron.

This raised the number of official challengers to five.

The first German challenge had to be checked out because it is based inland, at the Duesseldorf Yacht Club on the Rhine River.

But the yacht club hold their annual regatta on the North Sea, qualifying it under the contentious "arm of the sea" clause in the Deed of Gift.

The squadron has now banked entry cheques from Punta Ala's Prada, Seattle's OneWorld, New York's Stars & Stripes and Geneva's Swiss Challenge.

The deadline for the $US150,000 entry fee is March next year.

Herald Online feature: America's Cup