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SBD Global/June 23, 2014/Finance

Team New Zealand Director Stephen Tindall Says Club Has Funds To Finish Year

Team New Zealand Dir Stephen Tindall claimed that the America's Cup syndicate "now has the money to carry on through the end of the year," according to the SUNDAY STAR TIMES. Last weekend, Team NZ President Grant Dalton said that he had raised NZ$6M ($5.2M) over the previous seven days, but "still faced a potential shortfall" of NZ$3M ($2.6M) before the month was out to remain in the America's Cup. A week on, Tindall said that the total amount "has been found to meet" a NZ$3M entry fee deadline. Tindall: "We've got enough money to get through the end of the year. We're getting more and more comfortable that we are going to be able to get through and we haven't made any decision on when any announcements would be made" (SUNDAY STAR TIMES, 6/22).
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