AMERICA’S CUP 62 million cost of the Bermuda Cup 2017
– Bermuda expenditure for the adventure of America’s Cup are significant:Approximately EUR 62.3 million to invest the British overseas territory
Bermuda invested a considerable sum in the hosting of the 35th America’s Cup. The numbers “stuff.co.nz” published in the New Zealand magazine has compiled for the House of Representatives of the British overseas territory Bermudas Economic Development Minister Grant Gibbons, governed largely autonomous. Then the adventure America’s Cup Bermuda expected costs a total of 62.3 million euros.
Specifically, the sum of the following amounts is composed: 12,140,000 euros gets the America’s Cup Event Authority (ACEA) for hosting rights. 20,230,000 euros shall be deposited as collateral with ACEA, to cover potential sponsors failures.11,330,000 euros will be invested in infrastructure and the development and expansion of the regatta city. Approximately 8.9 million euros will cost the operation of the regatta city. More 9.7 million euros are earmarked for transportation costs,safety precautions, emergency services and legal affairs.
At the same time emphasized Gibbons that Bermuda would make “about 202.4 million euro profit as host“. Approximately 11.33 million euros will be taken through taxes and fees. The basis of this first financial statement Bermuda drew loudGibbons present studies on the economic impacts and outcomes of the America’sCup earlier hosts, such as San Francisco, Valencia and Auckland to rate.