(07-16-2007) - Louis Vuitton's sponsorship of the America's Cup ended last Friday with a handbagging. The news that they are withdrawing from sponsorship of the Challenger trials was accompanied by carefully worded censure of the America's Cup Management's plans for the next Cup. The French luxury goods company has become synonymous with the America's Cup, which they have sponsored since 1983. But the news that they are dropping out confirms rumours that they are unhappy with the way the event is being run and the escalation in the costs of sponsorship and participation.
The most intriguing element of the announcement is its criticism of the naked commercialism of the Alinghi-led management, and the power struggle that is brewing about how the next event will be run. 'Louis Vuitton have decided not to sponsor the next Challenger trials but will carefully observe the future evolution of the event,' they say. 'The new rules of the America's Cup imply a more commercial approach and the protocol is already disputed by some teams. In addition, there is a risk of a significant reduction in the number of teams taking part.' -- Elaine Bunting, Yachting World, full report:
http://www.yachtingworld.com/yw/blog/20070614083344blog_elaine_bunting.html
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