Yachting: Swiss pay bills just in time

By Suzanne McFadden

It is no wonder the Swiss America's Cup campaign are calling their new boat "Be Happy".

Yesterday the Fast2000 syndicate, hampered by money troubles since their conception, finally paid off their debts to the cup village in Auckland.

The $162,000 owed arrived in the bank account of the America's Cup Village Ltd at 4.45pm, allowing the Swiss to stay on their base.

Fast2000 have secured a major sponsor, Swiss watchmaker Audemars Piguet, to help ease their financial woes.

In April, a writ was stuck on the yellow boat the Swiss left behind in Auckland, for fees owed for leasing the base. Around the same time, work came to a halt on the syndicate's boat in Geneva.

But now the bills are paid, Switzerland looks more than likely to have their first cup challenge in October.

Their new yacht, to be christened "Be Happy", is well under construction, and received a sail number, SUI59, last week.

It is now a full house at the cup village, with 11 teams setting up home.

But there may be room for just one more - ACVL would like to squeeze in Syd Fischer's Young Australia syndicate, who have yet to settle on lodgings for the challenger series.