Subject: [NEXTEL-1] Craig McCaw cool on future America's Cup campaigns

From: Marcel <[email-masked]>
Date: Wed, 22 Jan 2003 20:09:53 -0500

Looks like Craig is hanging up his Sails for a while. He said he would not
plan a new campaign until he knew how future Cups would be organized, however with his
current financial woes which include multiple lawsuits, a failing satellite company and
the loss of his financial stake in XO it just might be the best thing to do.

Evidence of his cash crunch
http://ccbn.tenkwizard.com/filing.php?repo=tenk&ipage=1980675&doc=1&total=&attach=ON&TK=nxtl

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Craig McCaw cool on future America's Cup campaigns
Mon Jan 20, 9:18 PM ET

By STEVE McMORRAN, Associated Press Writer

AUCKLAND, New Zealand - Craig McCaw's first America's Cup campaign
may be his last.

The Seattle mobile phone pioneer whose US$80 million OneWorld
Challenge was beaten last month in the Cup semifinals said he would not
plan a new campaign until he knew how future Cups would be organized.

"The spirit of the America's Cup has to be about tough competition on the
water and camaraderie off the water," McCaw said.

"Many current and former participants have wonderful ideas about how to
change and improve the event.

"I would be happy to be part of the reform discussions that I believe are
sorely needed but until I see some leadership in that area I would not want
to proceed and in effect be endorsing the present situation."

McCaw attempted through OneWorld to combine his love for sailing with a
passion for the environment. But his syndicate was unwillingly controversial,
twice penalized for rules infringements and harassed for its use of former
Team New Zealand sailors and designers.

The nationalistic group BlackHeart, which mounted a hostile campaign
against New Zealanders sailing for foreign teams, locked on to OneWorld
early, erecting billboards which ridiculed its activities.

After OneWorld was eliminated, BlackHeart's attention swung exclusively o
the Swiss team Alinghi which is headed by former Team New Zealand
skipper Russell Coutts.

The Swiss received letters threatening violence to New Zealand sailors and
their families.

"While the atmosphere of the event has at times been difficult for us in
Auckland we continue to love the city and the people of New Zealand and
hope the racing can be completed in a way that honors the Kiwi spirit,"
McCaw said.

He thanked his partner in the OneWorld Challenge, Microsoft co-founder
Paul Allen, for his support. Allen put an estimated US$10 million dollars into
the team.

"(Allen) stepped up and stood behind the team when raising sponsorship
dollars was difficult in the post-Sept. 11th environment and a struggling
economy," McCaw said.

In a joint statement McCaw and Allen described OneWorld as "probably the
finest group of men and women ever assembled for the purpose of winning
the America's Cup."

"We are proud of the effort that each put forward in the face of adversity. We
hope to be fortunate to sail with them another day."

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20030121/ap_wo_en_po/as_spt_sai_america_s_cup_oneworld_1

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