France withdraws from series
NZPA-AFP - Paris France’s cash-starved Challenge 12 America’s Cup syndicate will rent out their Fremantle base in Western Australia after withdrawing from next month’s world 12metre yachting championships. The team director, Jean Losi, and the skipper, Yves Pajot, whose brother, Marc, heads France’s other America’s Cup group, insisted they intend to press ahead with their challenge. However they confirmed that they, had cancelled Challenge 12’s entry in the, world championships and said they were lookinjtfor a British or American tSm to
hire their Fremantle boatyard for a period. The French syndicate recently dismissed 10 of their 40 employees. ‘'We calculated the cost of our America’s Cup campaign at 70 million francs (sAustl3.s million) and we are about 30 million francs (sAusts.B million) short, but we are talking with a potential major sponsor, a French company with big interests in the United States,” said Mr Losi. Pajot admitted that Challenge 12 did not perform as well as Australia’s Kookaburra and Italy’s Azzurra in recent trials, but he said “our crew were better.”
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Press, 11 January 1986, Page 3
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174France withdraws from series Press, 11 January 1986, Page 3
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