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Lack of Funds Forces Aleph-Equipe de France out of America's Cup |
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Sailing - 04 Apr 2012 - Aleph-Equipe de France, one of the French teams that was due to compete in sailing’s America’s Cup in 2013, has withdrawn from the event over financial difficulties.
The team was set to be one of two French outfits in the America’s Cup but has now pulled out of the preparatory America's Cup World Series this year and the main America's Cup contest, which will be staged in San Francisco next year.
Sportfive, the international sports marketing agency, had been appointed to help bring in sponsors for Aleph-Equipe de France, in its role as the team’s exclusive marketing partner.
Hugues Lepic, the team’s chairman, said: "The new format of the America’s Cup and the America’s Cup World Series circuit should have enabled us to attract sponsors and to finance a highly competitive French National Team.
"Although this new circuit is starting to fulfill its promises and in spite of very promising sporting results against the best teams, the economic environment does not allow us to go all the way to San Francisco in 2013."
Philippe Ligot, Aleph-Equipe de France’s chief executive, said: "We fought hard, with all our drive and enthusiasm, to find a budget allowing us to participate in the final phase of the 34th America’s Cup. We did not want to compete with resources that would not allow us to credibly challenge the best teams.
"France has, without a doubt, all the sporting, technical and managerial talent to win the Cup but the current economic environment makes funding a commercial team extremely difficult."
Sportcal
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