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America’s Cup hopeful Stars and Strips strapped for cash as deadline passes

Team New Zealand chief executive Grant Dalton isn’t convinced the entry fee to contest the opening America’s Cup World Series event is too expensive, with only four teams making the payment.

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Team NZ boss Grant Dalton says he can’t buy that argument after Stars and Stripes Team USA failed to pay the fee in time to contest the regatta in Italy. Source: 1 NEWS

Stars and Stripes Team USA failed to pay the fee of $436,000 in time to contest the regatta in Italy, and do not have a completed AC75 boat.

With The Italian Challenge of Record claiming the cost to enter is too much, Dalton was quick to shut down the notion.

“I just can’t buy into that argument,” he said.

“This team is spending less money and overall budget than it spent in Valencia in 2007.”

Dalton does however sympathise with Stars and Stripes and hopes to see them on the water not before too long.

“We’ve been in contact with them a lot. They’re hanging in there, but are struggling for funds basically. This is a tough game,” he said.

“Their boat’s well and build, but it’s stalled because they can’t afford to keep going at the moment.

“They’ve got to get going again pretty soon.”