SBD Global/June 26, 2014/Franchises

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  • Team New Zealand To Compete In Next America's Cup Without Public Funding

    Team New Zealand is "set to contest the next America's Cup and look likely to do so without raiding the taxpayers' coffers -- at least for now," according to STUFF. Team NZ Chair Keith Turner said on Wednesday that the team had "reached a point where it had the confidence to mount a challenge for the 35th America's Cup." Turner said the team had "secured sufficient private and sponsorship funding to go to the next stage without needing Government funding to tide them over until bigger money deals set in next year." Team NZ Managing Dir Grant Dalton said the funding had been secured as a "result of hard work which started at the end of the last America's Cup, which was lost to Oracle." NZ Economic Development Minister Steven Joyce said that he "recently advised the board of Team NZ that the Government wanted the team to secure private funding rather than rely on a taxpayer at this time." Joyce added that Team NZ "would submit a revised sponsorship proposal" which the Government would consider "in due course" before making any decisions (STUFF, 6/25).

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  • Franchise Notes: Atlético Announces It Will Open Football Academy In Bucharest, Romania

    Atlético Madrid President Enrique Cerezo announced on Wednesday in Bucharest, Romania that the club will "open an international football school in Bucharest." It will be Atlético's first football academy in Europe and will be a joint project with local organization Regal Sport Club (EFE, 6/25). ... Spanish side Córdoba, which recently earned promoted from the second division to La Liga for next season, will "multiply its budget by five for next season." The club's '13-14 budget was approximately €9M. Córdoba President Carlos González said that his goal is to "create a solid club, with potential." To do this, González said that the club will have to "have a budget around five times greater than it was in the second division" (SPORT, 6/24). ... Victorian Football League club Bendigo will "fold at the end of the season and will not renew its licence in the VFL." The club has "made the decision that its model cannot be sustained in the current VFL climate given the rising costs to produce a competitive standalone team." After splitting with Australian Football League side Essendon at the end of '12, Bendigo "has not won a senior match" (THE AGE, 6/25).

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