America's Cup: Team Germany's reasons for Withdrawing

by SailRaceWin

In an interview in the German magazine Yacht today, Michael Scheeren, boss of United Internet Team Germany was asked their reasons for pulling out of the 34th edition of the America's Cup.

In summary, despite a starting budget (20 million Euros) they pulled out for two main reasons: the considerable existing advantage of the Americans, and much too high costs.

Basically, Team Germany was well set up with gear for a monohull challenge, and had 20 million Euros start-up from 1&1 towards the next event (1&1 being keen to get exposure at events in Europe), but they calculated that they had to write off their existing boats and seek another 30-40 million Euros for a viable challenge. They had organised cooperation for monohull keelboat sailing with Udo Schuetz (Team Container).

Germany's technological and aeronautical industries are of a high standard and while cooperation there was a possibility, the odd 5 million Euros in financing on top was not. They couldn't see where to get the extra money from and, other than the catamaran, much of the lead-up to the 34th America's Cup remains undisclosed, or not yet determined (e.g. location of events), and there is very little time.

Michael Scheeren's conclusion is that the teams that will take part in this 34th America's Cup are those backed by billionaires who can privately finance challenges, and that there will not be much in the way of sponsorship in addition to this.

Yacht
America's Cup