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The Future of the America’s Cup & A Treble for Emirates GBR
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Okay, this is the Performance People podcast in partnership with JP Morgan. Um, and today's guest
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is none other than my husband, Ben Ainslie. We are fresh. I say we're fresh. We're not really fresh,
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but we are back, at least from a really exciting time in Abu Dhabi, where Emirates
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GBR clinched the sell GP series championship. In fact, we won loads of stuff. We won
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that particular weekend and the flagship grand finale, we won the Impact League whilst we win, win something
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else. We won season well, yeah, we won the whole season, which is obviously so a major. Yeah, I
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guess you could call that a triple. It's a treble. It's a triple treble. So, um, how are you feeling
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after all of that? I mean, everyone's hangovers have subsided and the reality has set in that
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it's the end of another busy year. But I mean, what a result. No, it was an incredible event. And what a
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performance from the team it was. It was difficult certainly on Saturday. Not a lot of wind and saw a
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big turnaround in the fleet. You know the the teams at the top of the table maybe being a
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little bit conservative. Obviously keeping an eye out on who could make it into that top three for
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the grand final. So we saw not unusual teams at the front. Denmark in particular sell
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brilliantly through through the weekend. Red Bull Racing with Phil Robertson on the on the helm
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driving. Um you know had a big step up in performance and also Mubadala you know Brazil you
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know in a lighter air as we saw them USA. So some of the teams that have struggled a bit this
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season coming to the fore. But yeah the grand final what a race. I mean that was one of the the
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all time greats for SailGP. I mean that's sort of a race like you say. I mean, when they happen in
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SailGP, they're really spectacular. But this was a race where, you know, over the course of the
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entirety of its duration, the lead just kept on changing. He did. It did.
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And you did. I mean, we do see that a lot with this racing on these tight race courses. Aussies nailed
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the start ourselves and the Kiwis a little bit back. I think we did a really nice job to split
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away. And for me, a lot of people talk about the Windward Gate as being the deciding moment in the
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race. I actually think it was the leeward gate before that. And, you know, our team just did a
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really nice job to come in, give themselves an option. And they did what we call it, a sort of JC
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maneuver, which is this sort of tack around the leeward gate managed to keep on the foils in
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these sort of light conditions, and that then split them from both Australia and New Zealand
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and gave them all the options, which then came to four at the top gate. So it was it was really
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fascinating. And ultimately a lot of it came down to being in the right place at the right time. Of
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course, how the wind played out on that final downwind leg before the turning, turning mark to
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the finish, and it just fell into place for our team. But you know what? They really deserved it.
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They sell brilliantly all season. They really, you know, put it all down on the table and,
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um, came away with a win. Um, watching you watch that race was sort of a spectacle in
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itself. Um, and, and I think there's two parts to this question. The first part is, um, you
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know, what was running through your mind as you were watching the action unfold on the racecourse,
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but also like, how did it feel for you not being in that boat? Because I know, I know, it's been, you
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know, a tricky, a tricky year in that regard where you sort of stepped away from it. Dylan taken it
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forward and done an amazing job, and we'll talk about that job that he's done in just a moment.
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But just talk about, from your perspective, what it feels like to watch your team out there
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contesting for those wins. Well, all I can tell you is it's way harder watching than it is competing.
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So I got that feeling. So for all of those all of those parents and family members and fans out
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there that have been pulling their hair out for years on end, watching their loved ones out there
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competing, or the team that they really support and really want to win. Oh, what a nightmare. I mean,
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your emotions are all over the place. It's. You were miked up. Well, yeah, it's quite. And
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there was some, some great comments being thrown at me left, right and center. So it was, uh, it was a
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really you know, it was I think it was, it was, it was emotional. What can I say? Yeah, it was a bit
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emotional because it's been a really sort of tricky, torrid and quite tumultuous year that, you
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know, that team and, you know, us personally have gone through as well. So to end it on a high was
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obviously really, really meaningful and obviously meant a great deal to a lot of people. The job
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that Dylan's done over the course of this year, just to sort of explain his contribution to the
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team. Well, incredible. A massive ask first off, to come into a team
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where Giles had come in last season. Done a really good job, had,
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you know, a few ups and downs but done a good job. Then Dylan being asked to step in this season and
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straight off the bat came out with a win in Sydney and I think they were in a top three in
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the first three events they competed, which sort of a little bit of a honeymoon phase if you like.
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Then inevitably a few say wobbles set in, but you know, there were just a few slip ups
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so mid-season not great. And then did a really good turnaround. Got their act together the
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final half of the season. Pretty much super consistent right at the top. And like I say, sort
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of deserved to be the overall seasonal leaders if you like. And you know a lot of
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that is is credit to Dylan. You know, coming in, being able to really show some leadership.
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I think he's learned a lot from the involvement with the Cup team as well. So that and then of
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course just the team around him both on on the water but also off the water support. You know, Rob,
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Rob, Rob Wilson, Ben Cornish, Nick Robbins in the coaches booth. Those guys have also played a
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really key role in in supporting the sailors. And it's great to see that team come together and
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develop the way they have. What about it? What is it in his character that sort of gives him that
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sort of confidence, I guess, to throw himself into the deep end and, and
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really ferociously attack what's in front of him. What is it about him? What's in him that you
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recognize and see? You know, there's a leader there. Well, look, I think he's a fighter first and
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foremost. Yeah. Desperately wants to win. Like all top performers do. I think
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definitely an element after being taken out of SailGP in season one. They wanted to prove
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to everyone, you know, just remind people what happened there. That took him off the boat. And
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because it's all part of his story and part of the reason why this season with him helming the
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boat was so spectacular and resulting in a win. Yeah. Well. Okay then. Well, ultimately we or I
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took him out of the GBR team, which was slightly acrimonious at the time. And I do remember having
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a conversation where I. So what but what led up to that? What was the thinking behind that? What
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happened? Well, well, Dylan and his team got involved with he was flying with GP for
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GBR in season one and they didn't have a great season. And that was, you know,
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probably just down to getting used to the boat. And there were a lot of things going on in the
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season. One was certainly expecting a fledging circuit And then we had
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the opportunity to get involved with some sponsorship. And so we we ultimately took that,
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which unfortunately for Dylan and the team around him, meant that a lot of those people, um, you know,
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lost their seat on the, on the team, on the boat. So I phoned up Dillon the right, which, of
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course, is the right thing to do. An awkward conversation, as you expect. And, you know,
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understandably, he was seriously pissed off. And that which wasn't a you basically wasn't a
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surprise on the boat, right? That's right. Yeah. So it wasn't a surprise to me. So it never to be that
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he was always going to be pissed off and rightly so. And, you know, as I said to him at the time, look,
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I understand your position, but all I can tell you, my advice, having, you know, been around for a bit
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is that none of us know how this is going to play out. And I understand where you're at, and let's
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just see what happens in the future. Now here we are, some four, four years later or whatever it is,
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and he's SailGP champion. Now, I'm sure he probably would have preferred it to have been a different
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route, but you never know. Actually, having had that chance taken away from him, you know, he had to
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really go away and earn it and fight for it. And, you know, to his credit, he really did fight for it.
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And, you know, I think to answer your previous question, that is part of what drives Dylan to
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want to be successful is to prove to the world just what a great sailor he is. And, you know, he
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did that this weekend alongside the rest of the team. Yeah, we're going to start to see, I suspect
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as SailGP grows and as more teams come to the table and, you know, there's more driver spots
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available, I suppose what we're going to start seeing is, you know, some drivers are set apart
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from others. There will be the likes of Tom Slingsby, Pete Burling, Dylan Giles all playing at
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the top of the table. What are their common traits? Would you say? What do they have most in common?
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Yeah, I would say right now you have maybe a handful of, of of what you saw your, your
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superstar drivers and they are probably game changers. And then you've got another group who
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are close to that. But you know, for a reason, not quite there. And then you've got some new people
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coming in driving these boats. And and also, let's not forget, it's not just about the drivers. I mean,
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the flight controllers, the wings. I mean, everyone on this flight commander's is my dad, flight
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commander, Flight Commander Parkinson. It's absolutely critical. But, I mean, every role is
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really critical. You know, there's not one role on these boats. If you're not delivering, you're going
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to let the rest of the side down. So of course there's a lot of emphasis on the drivers, but it's
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it's a real team game. Also in the what we call the adrenaline lounge at, um, at these big cell
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GP weekend events. I guess if you're liking it formula one, it'd be the Paddock Club, something
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like that. But where all the sponsors go, where all the money is in the adrenaline lounge, watching
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the sort of spectacle over the weekend, and it is kind of like squeaky bomb time on a Saturday when
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there's no wind and you're thinking, oh my God, like, how are we going to entertain these people
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and showcase to them what this sport can really be like, you know, with decent conditions. But on a
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Sunday you've got everything you wanted in those conditions, in those moments, you looking around
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the room at the sponsors that are alongside you and thinking, oh, thank goodness for that. And
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actually this could lead to literally some really serious, serious deals being done. But yeah, of
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course. And it's a commercial sport and we need those partners to reach our budget to, you know, be
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able to compete, etc., etc.. Actually, it's interesting because on the Saturday we didn't
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have great conditions and I know the league, you know Russell Coutts running the league. Seriously
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frustrated because they've got such a great package and then the wind doesn't deliver. And
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this is the final and end end. But actually the majority of the people there still said, wow, that
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was still great racing. It was amazing to see the boats as close as they were. And there was I think
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there were a few collisions and there was lots of action. But of course we all closed the sport, know
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what it can be and desperately want it to be and someday, you know, did deliver and the boats were
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foiling and it was that much better. But yes, the commercial side of it is is is just as
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competitive as it is on the water. And there are some fantastic brands now involved with
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SailGP, you know, the very highest level of global sports with SailGP. And that says a lot about the
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league and where it's going in the future. Yeah. What I mean, when you think back, it's sort of in
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its fifth season now. Well, it's about to tip over into the sixth season any time soon. Um, but, you
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know, you think about the journey that it's been on and what Larry Ellison and Russell Coutts have
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been able to put together in that league. I mean, you know how serious a sporting prospect is it
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now? I mean, it's it's serious. It's really serious. I mean, just off
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the back of this last weekend, we potentially, you know, sign three significant
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sponsors off the back of that. Okay. Maybe they would have signed anyway but certainly didn't
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hurt the fact we came away as a as a as champions. And you know we're going to be
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a considerably inconsiderable profit next season. I mean, I've been involved with professional
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sailing for 30 years pretty much, and I've never had a profitable team. So I'd
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say that's that's massive. And I know with the league the deals that they're doing as well, the
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broadcast figures that are coming through on the back of Abu Dhabi, there's serious, you know,
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growth in Saudi Yippee! And of course, the trick is to keep going. You know, I know the plans that the
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league have got in terms of new venues, how to make the league more efficient, new teams coming
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in. It's really, really exciting and great for the sport of sailing. What would you most like to see
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happen in the next year or so where the league's concern. I guess from my probably more of a
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macro perspective it would be. The broadcasting is really key. Of course it is. When you look
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at any professional sports league circuit, it's about the broadcasting numbers and you've got to
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have that growth. And the league does have that. How does it develop that, you know, whether it's in
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the different regions. And I think when you look at some of the statistics, some regions you
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wouldn't necessarily expect to be that high are and others that you think, well, you know, that's a
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really strong sailing nation. They should be doing much better. Why they're not. So I know that's a
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real focus for again for Russell and the rest of the team at the league to get on top of that. Of
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course, at the moment SailGP is sort of the main sailing proposition that's out there. But the
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cup to the subject of the the America's Cup, which is kind of the thing that everyone wants to ask
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you about first when they speak to you at the moment. But I thought it was important to talk
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about what happened this past weekend or the past, the past few days. I think that's right with GP
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first. But let's get to the subject of the Cup. Done deal? I think so,
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yeah. Yeah. Which is incredible in itself for the cup. The history of the cup. We all know that 1851
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winner takes all. And now that's changed. And I think for the better.
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Because it can't really survive in that mold of when it takes all the. Certainly in the last
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ten years or so it's been dwindling. And you get to the point where to New Zealand to survive. Have
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to start taking the event offshore. So then you get away from hosting it and you know the the
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winning team's home port. So that's kind of shifted. And we're seeing that across all global
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sports that they're getting. There have to be commercial or they die. And that's the same with
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the America's Cup. And I think this gives it a real massive shot in the arm. So we're talking
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here about this partnership deal that has been struck between the sort of founder members of
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this of this partnership arrangement. And I mean, is the purpose of the partnership. We'll talk
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about the sort of, you know, what the perceptions might be of this, but is it to ensure the
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longevity of the Cup? Would the America's Cup have continued beyond this, this
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previous cycle that we've just had, if this partnership deal had not been signed? Arguably not.
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I mean, we're in a we're in a we're in a in a challenging position
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as challenger of record as we have been for this last cycle. And, you know, the Kiwis have
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won for the third time in a row. Amazing achievement. But, you know, really struggling to see
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where does it go next. And how does the commercial how does the cup become more commercial. Would it
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have survived another cycle? Probably yes. Would it have survived another, you know, 3 or 4 cycles? Who
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knows? Anyway, the reality is that we've created this partnership, I think, for
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much for the betterment of the America's Cup. And this is now about how do we
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create a sustainable sports product that gives the Cup the opportunity to survive
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another 175 years or whatever it is. So it's it's going to be a challenge bringing
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these teams together in partnership to develop the the event both on and off the water, but I
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think it's very much needed. How did you bring Grant Dalton to this, to this table? I mean, without
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him, it's not happening. He's the defender. He has the keys to the castle and fundamentally gets to
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make that call as to whether this is or isn't a goer as far as a partnership agreement is
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concerned. But hard thing to come to the table and you're the guy that's got it all. Yeah it is. And
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credit. Credit to him and to New Zealand for seeing that opportunity. It's really
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fascinating. A lot of discussion of course, is about the America's Cup. So many sailing fans
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passionate about the history of the sale of the America's Cup. But actually, when you delve back
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into Barcelona or even before Barcelona, I mean, I remember having a conversation with Grant and, uh,
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you know, good friend out of Formula One about come on, we need to have a look at this. We've got
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to properly try and get on to get to grips with the commerciality of this thing. And I know a lot
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of the other teams involved. Well, pretty much actually all of the teams, other teams in
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Barcelona were having similar conversations. And then during the event, actually there were some
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some meetings that were hosted by, by Doug de Vos. There were other meetings that
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were hosted by different individuals. But again, all of the teams were
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were were the same mind that we need to do something here. You know, we've got an incredible
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event. It's got so much history, so much prestige. But, you
00:19:10.750 --> 00:19:16.309
know, where do we go from here? Because this isn't really sustainable. And and you know, now we're at
00:19:16.310 --> 00:19:20.589
the point we've got all those teams that are committed to the partnership moving forward. So I
00:19:20.589 --> 00:19:27.189
think that says a lot about everyone's enthusiasm to really get to grips with this and do something.
00:19:27.229 --> 00:19:32.829
What do you know on the inside of the cup? Having had a cup team at the last three cycles, and other
00:19:32.830 --> 00:19:38.989
cup teams in a similar position that people on the outside don't recognize about the
00:19:39.270 --> 00:19:46.108
stresses and strains of running a cup team and why it requires a partnership.
00:19:46.590 --> 00:19:51.790
Well, it's always been the case that you have a defender and a change of record. Our defender is
00:19:51.790 --> 00:19:58.068
really in the hot seat and they are defining the strategy of the event where it is, when it is, what
00:19:58.069 --> 00:20:03.149
the rules. Then you have the challenge of record, which is effectively but what our organization
00:20:03.150 --> 00:20:08.069
has been for the last two cycles, and they have the opportunity to get involved in those
00:20:08.069 --> 00:20:13.309
discussions, but they're kind of playing catch up to a certain extent. Then you have all of the
00:20:13.310 --> 00:20:18.829
other teams who really are playing catch up. And I think it's kind of got to the point now that
00:20:19.150 --> 00:20:25.180
everyone's lost enthusiasm for that structure. And when you've got a team as good as Team New
00:20:25.180 --> 00:20:31.978
Zealand are, and people are looking at saying, well, you know, surely they've fudged it.
00:20:32.020 --> 00:20:38.059
Surely they've bent the rules in their favor to win three times in a row. And having been the
00:20:38.060 --> 00:20:42.379
person on the other side of that negotiation, I can tell you they really haven't. They've just
00:20:42.379 --> 00:20:48.419
been bloody good. I mean, I would say they're arguably the best team in the history of the Cup,
00:20:48.859 --> 00:20:54.938
but nevertheless it creates an environment of kind of mistrust and
00:20:55.740 --> 00:21:01.459
disillusionment that why why can't we be competitive? And
00:21:02.019 --> 00:21:08.899
ultimately the event needs to become more sustainable financially. It
00:21:08.900 --> 00:21:14.579
needs to be cheaper to participate. It needs to still be cutting edge technology. And I don't
00:21:14.579 --> 00:21:21.019
think it can lose that sort of technological competition, that formula. Formula one has been so
00:21:21.020 --> 00:21:26.859
successful with. And we need that in the sport of sailing. So I think it very much has its place
00:21:27.140 --> 00:21:32.939
alongside SailGP. I mean, no one can argue that SailGP hasn't been a huge success and really
00:21:32.939 --> 00:21:38.060
earnt its place right at the top of the sport. But America's Cup is a different competition. It's
00:21:38.060 --> 00:21:44.979
match racing, okay. Might have some fleet racing in it in the build up. But it's the teams.
00:21:44.979 --> 00:21:50.899
The technology of the teams, you know is is, you know developed. It's different. The boats are
00:21:50.900 --> 00:21:57.739
different. And that's I think that the, the history of that
00:21:58.420 --> 00:22:05.379
is really what, um, you know, sets it apart. And I think, you know, you can liken it
00:22:05.379 --> 00:22:11.899
to the Ryder Cup or something like that, or, you know, it's a sport that's got real, um,
00:22:12.099 --> 00:22:18.539
prestige and special event status. We've talked about how SailGP is a really
00:22:18.699 --> 00:22:25.300
obvious investable product. Now Is the cup now an investable product? Was it
00:22:25.300 --> 00:22:32.179
investable before in the way it is now? Absolutely I think so. And I think it is it is
00:22:32.180 --> 00:22:36.379
an investable product now. Yeah I mean the difference is looking at the America's Cup to say
00:22:36.419 --> 00:22:41.818
SailGP is SailGP is a franchise model and proven to be a really successful franchise model.
00:22:42.219 --> 00:22:47.459
America's Cup, it's a it's a partnership. So ultimately the teams, the founding teams will all
00:22:47.459 --> 00:22:54.019
own an equal share in that partnership. Uh, that's just pluses and minuses. But
00:22:54.060 --> 00:23:00.939
ultimately the plus side is that you, this is an event with incredible heritage, prestige, and if
00:23:00.939 --> 00:23:07.859
you can do a good job and really maximize the potential that it has, then those teams, not
00:23:07.859 --> 00:23:13.699
only their the individual teams values, but also their shareholding in the partnership should be
00:23:13.699 --> 00:23:18.618
really valuable in the future. Can you run something like this by committee? I mean you're
00:23:18.619 --> 00:23:25.459
talking about people with seriously big pockets, deep pockets who've been mega successful
00:23:25.459 --> 00:23:31.939
in business personally. Um, a lot of wealth swilling around, a lot of opinions swirling
00:23:31.939 --> 00:23:38.779
around. Just give people an insight to what those conversations have been like to get this
00:23:38.780 --> 00:23:45.619
over the line, because it's taken a long time. Yeah. It's been it's been bloody hard and kind of
00:23:45.660 --> 00:23:50.979
somewhat understandably so, because like you say, you've got all this history, you've got 170 odd
00:23:50.979 --> 00:23:56.979
years of history. You've got a lot of opinions, you know, valid opinions. Teams that have won the cup
00:23:56.980 --> 00:24:03.579
recently won the Cup before, um, being hugely successful in other sports or other walks of life,
00:24:03.580 --> 00:24:09.179
other businesses and, you know, understandably all have valid opinions. And trying to get that across
00:24:09.180 --> 00:24:16.139
the line has been incredibly hard. I mean, there's been some really, really tough conversations, but
00:24:16.139 --> 00:24:23.099
we're there and. now ultimately the the partnership will be run by
00:24:23.140 --> 00:24:29.979
a professional management group. You know there'll be a board of the teams, but the management of the
00:24:29.979 --> 00:24:35.659
event will be both on and off. The water will be neutral, and that's the first time that's ever
00:24:35.660 --> 00:24:41.780
happened in the cup. And I think that is what is the shift that's needed to really maximize the
00:24:41.780 --> 00:24:48.299
potential in the event. What do you see your role as having been in the last like 12 months, in
00:24:48.300 --> 00:24:55.259
terms of getting this to a point where it is now a reality? How would you kind of
00:24:55.300 --> 00:25:02.019
reflect on that? I could, I could multifaceted,
00:25:03.140 --> 00:25:09.098
I probably could be a little bit careful what I say at this point. But no, it's it's, it's, it's it's
00:25:09.099 --> 00:25:14.819
been it's been challenging bringing everyone together. And you know, like always you can look
00:25:14.819 --> 00:25:21.739
back in the last 12 months, They might have done a few things differently, but ultimately we are
00:25:21.739 --> 00:25:28.179
we are now there. And that's taken, you know, a lot of, um, patience,
00:25:28.859 --> 00:25:35.779
um, a lot of thick skin and a lot of things and a lot of late night phone calls to New
00:25:35.780 --> 00:25:41.780
Zealand. But yeah, we've it's been it's been a learning experience, let's put it like that. How do
00:25:41.780 --> 00:25:46.779
you. I mean, when we get to the point where it is finally Christmas and you can click back on a sun
00:25:46.780 --> 00:25:53.139
lounger and sort of park some of this. That'd be nice. How were you? How were you sort of reflect on
00:25:53.780 --> 00:25:58.098
what you've done because you've obviously played I mean, there's no going back from here. This is
00:25:58.099 --> 00:26:04.739
now this is the cup moving forward. I mean, it's a huge seismic shift for the competition. And
00:26:04.739 --> 00:26:10.459
there's no there's no going back from it. So how do you reflect on on what needs to be delivered
00:26:10.459 --> 00:26:17.459
to make that call a successful one. Yeah. Look, I think it's needed, and there are going to
00:26:17.459 --> 00:26:22.219
be traditionalists who disagree and don't like it. And I think we should be saving around in G-Class
00:26:22.260 --> 00:26:28.459
yachts and all the rest of it. But ultimately I think they're they're wrong. And or
00:26:28.900 --> 00:26:35.899
the the people racing in Barcelona last year also think that this is where we need to go. So we've
00:26:35.900 --> 00:26:41.459
just got to crack on and absolutely make the most of that potential. I mean, there will there will be
00:26:41.459 --> 00:26:47.579
some people who say, oh, this is the direction of travel that was never intended for the Cup. And
00:26:47.579 --> 00:26:54.379
for 170 years, it's run perfectly well as a competition which retains a USP in
00:26:54.380 --> 00:27:00.459
global sport, which it does as having this sort of mystique around it, which makes it special, which
00:27:00.459 --> 00:27:07.339
makes it a marquee special event, kind of a sport. Um, it it won't, it won't have that
00:27:07.339 --> 00:27:13.019
same thing going for it. It'll have a whole other load of positives obviously coming to the fore.
00:27:13.020 --> 00:27:19.099
But are you. Are you aware of that? Are you? You know, do you feel that quite keenly? Yeah. For sure.
00:27:19.100 --> 00:27:25.979
I'm cognizant of all of the opinions out there. Like I said, I'm convinced that this is what
00:27:25.979 --> 00:27:32.979
needs to happen to the event. Otherwise it is just going to, very sadly, slowly slip away. Pretty
00:27:32.980 --> 00:27:37.819
much every other major sporting competition in the world is evolving, has had to evolve. When you
00:27:37.819 --> 00:27:44.699
look at the advent of social media, the attention spans of generations of sports fans now, you
00:27:44.699 --> 00:27:51.540
cannot sit still in sports world as it is now. You will die. So if you
00:27:51.540 --> 00:27:58.219
want the America's Cup to be something that just people play out every now and then and sailing
00:27:58.219 --> 00:28:04.419
around in very beautiful looking yachts, that gave, you know, walking speed and specs out in the
00:28:04.419 --> 00:28:10.660
distance, well, fine, but it won't be a sporting event that it's taken seriously anymore. So
00:28:11.500 --> 00:28:17.818
Yeah, it's it's it's a brave call. It's a tough, tough one to make. But again, I come back to the
00:28:17.819 --> 00:28:24.019
fact that all the other teams sat there in Barcelona all at exactly the same view.
00:28:24.660 --> 00:28:30.818
Bloody hell. We've got to do something here and fast. So the only fly in the ointment, I guess, is
00:28:30.819 --> 00:28:37.339
how you dovetail with what is a very successful current global traveling circus of a series in
00:28:37.339 --> 00:28:44.179
SailGP. Because as far as I can tell, you're pretty much the only sailor of that caliber
00:28:44.220 --> 00:28:51.219
other than Goody Paul Goodison who hasn't got a drive in SailGP. So what do you do for drivers
00:28:51.220 --> 00:28:56.939
for the Cup teams? How's that going to work? Has anyone thought about that?
00:28:59.420 --> 00:29:05.899
I'm not. I'm not sure what the point is around SailGP, but um, anyway, the point. No, but it's a
00:29:05.899 --> 00:29:12.259
really realistic concern that if there are going to be 15 races of a cell GP calendar, and the cup
00:29:12.259 --> 00:29:16.859
becomes a biennial event. Sorry, you're talking about the fact that the sailors and how can they
00:29:16.860 --> 00:29:21.540
get if the cup becomes a biannual event and you've got 50 wondering where you're going with
00:29:21.540 --> 00:29:27.379
me and goody, because last time goody and I raced each other was in 1996 or 2000, was the laser of
00:29:27.420 --> 00:29:34.379
Barcelona when he was for American Magic. And you were your team? Yeah. Yeah. Okay. Yeah. There we go.
00:29:34.380 --> 00:29:39.979
Um, I can't believe you easily forgot that. Um, but the point, the point being is that, look, there's a
00:29:39.979 --> 00:29:46.379
hell of a lot of amazing talent in SailGP. Do you need to be doing SailGP before you can do these
00:29:46.380 --> 00:29:51.579
cup boats? Or can you just skip to it? From Olympic class to the cup boats, I mean, how are you going
00:29:51.579 --> 00:29:57.819
to find the talent to sail these cup boats when the SailGP season is super busy? Yeah, I mean, it's
00:29:57.820 --> 00:30:03.219
very different now, whether it's America's Cup or SailGP, that transition for talented young sailors
00:30:03.219 --> 00:30:07.939
or talented Olympic sailors is so much more straightforward than it was when I was looking,
00:30:07.939 --> 00:30:13.419
getting involved. The America's Cup, sailing a laser, for example, back with Paul Goodison in 2000
00:30:13.699 --> 00:30:18.539
to the America's Cup that took many years to understand the match racing game and sailing
00:30:18.540 --> 00:30:24.059
these boats that were 35 tons and, you know, just big lead mines. Now they're high performance.
00:30:24.060 --> 00:30:28.019
You're going from high performance to high performance and okay there's a team element but
00:30:28.020 --> 00:30:34.139
it's much more straightforward. You know in terms of the events. There's definitely a job to be done
00:30:34.140 --> 00:30:39.219
to make sure that the events Sergio America's Cup are complementing one another rather than
00:30:39.219 --> 00:30:43.699
fighting over sailors and fighting over schedules. How do you make that work out of your schedule? To
00:30:43.740 --> 00:30:49.380
my mind, it's really clear America's Cup is the special event status in sailing. It's the Ryder
00:30:49.380 --> 00:30:55.738
Cup, it's the football World Cup. How when you compare it and so do you. Piers is the formula one
00:30:55.739 --> 00:31:02.540
circuit. It's the Champions League. That's the, you know, 15, 20 events a year globally. And if we look
00:31:02.580 --> 00:31:07.539
at it that way, then the two events should really complement each other and gives us the best
00:31:07.540 --> 00:31:14.379
cities in the world, the opportunity to race into really complementing series. And that's if we do a
00:31:14.379 --> 00:31:20.099
good job of that. You know, the whole sport, both events are going to really benefit from that and
00:31:20.100 --> 00:31:25.499
create something that we will. You know, since I was a kid growing up getting into sailing, it was
00:31:25.500 --> 00:31:30.939
always a real challenge to get people to understand the sport to to maybe follow it. And
00:31:30.939 --> 00:31:36.859
now we're getting audiences. You know, last SailGP event in Abu Dhabi, I think 4 million
00:31:37.060 --> 00:31:43.540
viewership. That's, as I understand it, arguably the highest watched sailing race in history.
00:31:43.979 --> 00:31:50.499
And that's the opportunity we've got now. Have you big question
00:31:50.540 --> 00:31:57.458
chosen your sailing team for Cup World. No. What's
00:31:57.459 --> 00:32:02.739
the sticking point? It wasn't really a sticking point. It's just understanding the schedule and
00:32:02.740 --> 00:32:09.459
understanding, Ending. You know who? The right people. Who obviously had a great squad last time.
00:32:09.459 --> 00:32:15.979
I think we'll see a lot of the same faces on the boat again. Uh, maybe some changes. Um,
00:32:15.979 --> 00:32:22.819
but, uh, yeah. Still to be defined. Are you one of those changes or
00:32:22.900 --> 00:32:29.779
are you putting yourself on the boat? Quite possibly one of those changes, I don't know.
00:32:29.819 --> 00:32:36.659
Time will tell. Still so elusive. Still. But what are the considerations you have to
00:32:36.660 --> 00:32:42.379
make when considering that when weighing that up? Well, for starters, really important that my wife
00:32:42.420 --> 00:32:48.499
thinks that's the first time I've actually heard you actually say that out loud, so that's nice.
00:32:48.979 --> 00:32:55.220
Yeah. Finally we walked into that one nicely. Yeah. Uh, no, I mean, joking aside, you know, I'm
00:32:55.379 --> 00:33:01.779
obviously got a, you know, you've got a great family set up in 48 years old. Uh,
00:33:01.980 --> 00:33:07.659
Yeah, I've got a hell of a lot going on in terms of the business side of the sport. So,
00:33:08.900 --> 00:33:15.219
you know, can I offer anything to to the team? You know, it's kind of actually it's not really my
00:33:15.219 --> 00:33:21.459
decision. It's other people's decision. And if I can contribute, if I can help in any way, um, then
00:33:21.700 --> 00:33:27.339
then I will. But at the same time, like I said, I've got more than enough on otherwise. It's a bit of a
00:33:27.340 --> 00:33:31.618
dilemma, though, isn't it? When you come to think of it, because, you know, like we've said earlier,
00:33:31.619 --> 00:33:35.179
there's only a handful of people that are really good out on these boats, of which you're one of
00:33:35.179 --> 00:33:42.179
them. So you know that it's your team, um, taking it forward. Um, you know, most people would
00:33:42.180 --> 00:33:46.780
expect you to put yourself on the boat. And I know you talk about the fact that, well, I'll do what's
00:33:46.780 --> 00:33:53.659
right for the team. What would be right for you? Because you signed off in Barcelona
00:33:53.660 --> 00:34:00.619
with a really historic placement, which hasn't happened before. Um, and, you know, obviously went
00:34:00.649 --> 00:34:06.369
around close to the Kiwis in the final, but didn't ultimately clinch it but got close. So what? You
00:34:06.369 --> 00:34:12.169
know, how do you feel? Where's your head at? Yeah, I mean ultimately it was frustrating to get to the
00:34:12.169 --> 00:34:18.769
final not win it. And again credit to the Kiwis. I
00:34:19.449 --> 00:34:25.369
there were lots of quite a few including myself. A lot of people asking me was that the end of it in
00:34:25.370 --> 00:34:31.449
Barcelona? But for some reason it wasn't. It didn't feel like that was the right thing. You know, it
00:34:31.450 --> 00:34:38.449
wasn't. Also, I didn't really want it to be about the last thing we had from Barcelona
00:34:38.449 --> 00:34:43.129
was was me retiring. You know, it was a great achievement for the team. And it kind of felt like
00:34:43.129 --> 00:34:49.969
it wasn't it wasn't really the right, the right thing. So I don't know, but I don't know.
00:34:50.010 --> 00:34:56.809
I think the reality is I probably won't, won't sail in Naples. But will that be. Will that be
00:34:56.809 --> 00:35:03.570
a regret if you don't to not sign off the way you wanted to sign off. Yeah. Of course. I mean, the
00:35:03.570 --> 00:35:08.648
regret will be not winning the cup in Barcelona. But, you know, this isn't the perfect world that we
00:35:08.649 --> 00:35:14.569
live in, is it? So, you know, it kind of is what it is. I don't know what to give that percentage
00:35:14.570 --> 00:35:19.850
split in terms of whether will he or won't he. I'm not sure which side that's that's really coming
00:35:19.850 --> 00:35:24.329
down on. We'll have to revisit that at a later I don't know, but I mean, it sounds really corny. I
00:35:24.329 --> 00:35:29.610
know people just think, oh that's that's rubbish. But it is honestly. And actually when we started
00:35:29.610 --> 00:35:33.009
the team back in 2014, I remember some people saying, oh, well, are you going to steer the boat or
00:35:33.010 --> 00:35:39.968
are you going to even be on the boat? And it's the same answer. Then I'll do whatever is the right
00:35:39.969 --> 00:35:45.769
thing for the team. And I've had to make some really tough decisions for the team in terms of
00:35:45.770 --> 00:35:51.809
other people on the boat. But also, you know, we've got a fantastic coaching team. Rob Wilson leads
00:35:51.810 --> 00:35:58.609
that. You know, at any time before that he'd said to me, look, Ben, you Me. There's someone. You're
00:35:58.610 --> 00:36:05.489
not up to it. You know, but I would have. That would have been. That would have been it. So it's
00:36:05.490 --> 00:36:11.530
not. It's not just my decision. There are a lot of people involved in that. And that's the way it has
00:36:11.530 --> 00:36:18.249
to be. Can you win the next one? There's not a lot of time. There's not a lot of time left. It's taken
00:36:18.249 --> 00:36:25.249
a really long chunk of time out of this cycle debating, conjecturing about this
00:36:25.249 --> 00:36:31.730
partnership agreement. Meanwhile, the Italians have been quietly going about their business and are
00:36:31.730 --> 00:36:37.889
fully funded and have a direction of travel that's in the right direction. Um, the Kiwis
00:36:37.929 --> 00:36:43.569
obviously doing the same thing. So that leaves everybody else to effectively, like you say, play
00:36:43.569 --> 00:36:49.449
catch up. Are we going to be we're in a transitional phase as it is anyway. Are we going
00:36:49.449 --> 00:36:55.610
to be competitive enough to win it? Yeah, I think we've got a chance. Obviously it's been tough for
00:36:55.610 --> 00:37:02.050
the last 14 months is, you know, we've singlehandedly had to had to fund this thing. We
00:37:02.050 --> 00:37:07.049
managed to keep a core technical group together really critically. So we've been working on
00:37:07.050 --> 00:37:12.209
designs and ideas around designs with what the rule changes look like they're going to be for
00:37:12.210 --> 00:37:17.530
the boat, but we haven't been operating at the level of being a racer and a Team New Zealand.
00:37:18.529 --> 00:37:25.449
What can we do in this 12 months? Yeah, that's the that's the key
00:37:25.449 --> 00:37:31.929
to it. You know clearly we've got a great package. We've got a great team on and off the water. The
00:37:31.930 --> 00:37:36.888
team that I expect that will come, you know, the sailing team that we'll be able to bring back to
00:37:36.929 --> 00:37:43.169
the fore. So yeah I definitely put us in the dark horse category. But I wouldn't say it's impossible.
00:37:43.729 --> 00:37:49.809
I guess I'd like to sort of end this podcast by returning to a question I normally ask people
00:37:49.810 --> 00:37:53.169
right at the very beginning of it when they're first coming on, but I think it's actually quite
00:37:53.170 --> 00:37:58.289
relevant for you. Um, and good to sort of revisit this. And this is how we sort of round things off.
00:37:58.330 --> 00:38:03.689
Defining moment of the year. What would you say it's been? There have been quite a few seismic
00:38:03.689 --> 00:38:09.169
moments, but what would you say has been the sort of defining one that you could put a pin in and
00:38:09.170 --> 00:38:14.408
say, actually, from that moment, everything else came, came for.
00:38:19.090 --> 00:38:22.609
I probably can't answer that question because really, they're defining my mission being this
00:38:22.610 --> 00:38:29.529
last weekend in Abu Dhabi. But, you know, there had been like I said earlier, there have been some
00:38:29.570 --> 00:38:33.969
plenty of ups and downs this year and some really critical moments in terms of getting this
00:38:33.969 --> 00:38:40.249
partnership across the line. Yeah, I think the whole the whole year has been one massive roller
00:38:40.250 --> 00:38:47.089
coaster ride. But between Abu Dhabi and getting this partnership across the line, finishing
00:38:47.090 --> 00:38:53.729
off on, you know, really, really positive note and looking forward to strong 26 and beyond. Yeah. Do
00:38:53.729 --> 00:38:59.330
you know what mine is? If I was reflecting on this last year, having kind of had half a glass to the
00:38:59.330 --> 00:39:03.850
wall, listening in on all of these conversations and sort of trying to pick out what is or isn't
00:39:03.850 --> 00:39:09.970
happening. Um, and like you say, things seem to progress and then regress. Very it's like two
00:39:10.009 --> 00:39:15.729
steps forward, one step back, two steps one anyway. Feels like it feels like, you know, now, now that is
00:39:15.730 --> 00:39:19.570
sorted and it is sort of going in the right direction. I think that Abu Dhabi weekend is the
00:39:19.570 --> 00:39:24.449
seismic moment, because I think it's a the kind of the, you know, the shift that the whole team needed
00:39:24.449 --> 00:39:31.049
to be positive about what comes next. Yeah, I think you're probably right. Yeah, I put that down. And
00:39:31.050 --> 00:39:35.649
that's a very positive note to end things on. All right. Back to your whiskey and whatever it is.
00:39:35.690 --> 00:39:41.809
Water. Or is it apple juice? Apple juice. I've got a bit of a cold. So this is actually a brandy.
00:39:42.249 --> 00:39:49.169
So there we go. Mine, however, is just a sparkling water. All right. Brilliant. Cheers. Cheers
00:39:49.169 --> 00:39:51.049
for big year. Good health. Cheers, everyone.
Race destinations for the 2026 season
With 75+ locations around the world, J.P. Morgan Private Bank is uniquely positioned to help—Our teams are located in cities around the world, offering local insight, connection and commitment.
The 2026 season:
Auckland, New Zealand: February 14-15
Sydney, Australia: February 28 - March 1
Rio de Janeiro, Brazil: April 11-12
Apex Group Bermuda Sail Grand Prix: May 9-10
New York, US: May 30-31
Halifax, Canada: June 20-21
Portsmouth, UK: July 25-26
Sassnitz, Germany: August 22-23
Spain: September/October
Saint Tropez, France: September 12-13
Dubai, UAE: November 21-22
Abu Dhabi, UAE: November 28-29 (Grand Final)
Shared principles and dedication
Greatness at the helm
Sailing’s top talent
With Sir Ben Ainslie
In the world of finance, J.P. Morgan remains first in class. They continually exhibit integrity and excellence, and are really striving to make a difference. Similarly, that’s the sort of standard we aspire to reach with our SailGP team.