Michael Fay quits in protest at America’s Cup move

• Michael Fay, the business manager who guaranteed three offers.
• America’s Cup, has stopped the Royal New Zealand Yacht Squadron.
• Fight at the 37th protection of the “Auld Mug” being moved to Barcelona.

Michael Fay and two other key part in New Zealand’s ascent as an America’s Cup force to be reckoned with throughout recent many years.

Alan Sefton and Andrew Johns, surrendered their longstanding enrollments of RNZYS in a letter to the commodore, Radio New Zealand detailed.

RNZYS and Team New Zealand, who held the America’s Cup last year with triumph over Italy’s Luna Rossa, dismissed a NZ$100 million ($60 million) bid from the New Zealand government and Auckland Council to keep the 2024 occasion in home waters.

“For the best part of 40 years, New Zealand has enjoyed an emotional magic carpet ride with that event as (it) rose to the challenge to completely dominate the oldest and one of the greatest events in world sport …” the letter read.

“Yet, when the country is in position to reap the considerable rewards for those endeavours and achievements, the Royal New Zealand Yacht Squadron sells off the rights to hosting the event.

“That, to us, is a slap in the face for everyone and everything that have gone before.”

The Barcelona local government assessed in March that holding the America’s Cup in the Mediterranean city would have a monetary effect of around $900 million to $1 billion.

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