The Minister of Education and Economic Development, Dr. Grant Gibbons is establishing the legal framework for the hosting of the 35th America’s Cup in 2017, and the Ministry said that in “his public capacity as Minister, he has formally applied to incorporate a local company with limited liability to be called ACBDA Limited.”
“A legal notice under the Companies Act 1981 to that effect published on December 24th 2014 is evidence that the local planning for the America’s Cup is moving ahead,” the Ministry said.
“This is in keeping with the promise made by the Minister that authorities would have to hit the ground running to ensure that organizational structures would be in place early in 2015 to carry through on Bermuda’s responsibilities to host the events.”
“Crew members, representatives of the ACEA and others connected with the events will begin to move to Bermuda in early 2015, as they practice and prepare for professional racing commencing in Bermuda waters in October with the AC World Series.
“In tabling the America’s Cup Bill 2014 in the House of Assembly December 12, the Minister demonstrated that work on the initiative was already in hand. This was important to ensure Bermudians would have every opportunity to benefit from AC35.
“The ACBDA should be up and running in January. Additional details on its structure, organization and operation will be announced in due course.”
Dr. Gibbons said, “In the lead up to the venue announcement, Bermuda had a group of very committed individuals – a very capable team – that successfully bid to bring the America’s Cup event to Bermuda in 2017.
“But now we have a different job to do. We need a focused administrative organization that will work closely with the America’s Cup Event Authority [ACEA] on the management and supervision of our responsibilities as the host country. ACBDA Limited will play a critical role in delivering on our obligations and making the America’s Cup happen.”
The ACEA has scheduled a series of racing events in Bermuda beginning with the America’s Cup World Series over three days in October 2015.
Other events will include Youth America’s Cup in 2017; America’s Cup Challenger Playoffs 2017; America’s Cup Concert Series 2017; America’s Cup Super-Yacht Regatta 2017; and the Finals of the America’s Cup in June 2017.
