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A word from an ex ACM and Alinghi insider...

Posted 8 months, 26 days ago

A word from an ex ACM and Alinghi insider...
I have received an email from an ex-Alinghi and ACM employee who negotiated the deal with ETNZ to secure the sponsorship of Estrella Damm...Pretty amazing stuff: Their words, not mine: Dear Magnus,The Alinghi statement you posted on your blog is factually incorrect.1. In 2004, Ernesto Bertarelli allowed ETNZ to launch their challenge by granting them a multi million euro loan. Without this cash injection, it is likely that ETNZ would not be in the form they are today and able to complain about the so-called Alinghi lack of sporting spirit.2. When ETNZ’s boat was damaged in the Marseille Act in September 2004, ACM helped them financially to fly a second boat from New Zealand so that they could race in the following Act in Valencia in October 2004, which resulted in them winning the 2004 season. 3. ACM worked with ETNZ to secure the sponsorship of Estrella Damm.4. The model developed by ACM for the 32AC made possible a profitable event that ended for the first time ever with millions of euro’s being distributed to all teams, including 9 million euro’s for ETNZ. 3. should be: Alinghi (not ACM) secured sponsorship with Estrella Damm for ETNZ: in order to allow for reimbursement of the loan (see under 1 above)I personally negotiated the deal (whilst being on the Alinghi payroll). Strategy was: allow other teams in but keep the control and keep them small. The reason the loan was granted: Bertarelli was afraid it would cause bad PR to him if ETNZ could not enter (he could be blamed for having destroyed a great team/ history).   Full Story »

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