Lion funds bid

Press, 15 January 1986, Page 9

Lion funds bid

PA Auckland The former politician, Aussie Malcolm, has turned his attention from the America’s Cup challenge to fund-raising efforts on behalf of Lion New Zealand. Mr Malcolm said the America’s Cup mission is now safely in the hands of Michael Fay, and the Bank of New Zealand. He is “scaling down” his association with the challenge. Mr Malcolm confirmed he is getting behind the Lion fund-raising as Peter Blake and crew prepare for the third leg of the Round-the-World Whitbread race. “I was successful getting the America’s Cup act together, and now the right people have taken over I am getting out,” said Mr

“I am joining Peter Blake on a short-term project, because I am convinced it is important to get them on their way.” Asked if there was any possibility that Lion would not continue the race, Mr Malcolm said: “No, because we are going to sell every ticket in the Lion lottery. If we do not sell every ticket, we are in trouble, but I do not think it will come to that. Peter Blake has captured the public’s imagination. They will not let him down.” It is estimated that $500,000 is needed to get Lion the rest of the way to Portsmouth to finish the race. Mr Malcolm said he is relying on a sellout of the $lO raffle tickets to ance the budget” ®