The Chairman of Emirates Team New Zealand, Dr. Keith Turner, announced today that ETNZ can now mount a challenge to AC 35. This significant development allows ETNZ to move forward to the next stage without government funding.
"Now, with the assistance of long-time supporters Sir Stephen Tindall, Matteo de Nora and other private donors and sponsors, we are delighted to be able to say that we are funded through to late this year," Dr. Turner said in a statement released Thursday in New Zealand.
"The funding support for the team that has coalesced over the past week means we can continue the design and engineering development, and keep racing, until main sponsorship funds begin to flow," said ETNZ’s managing director, Grant Dalton.
This funding comes at a crucial time for ETNZ as the New Zealand government has yet to announce its financial contribution to the country’s AC 35 program.