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Performance Bond Deadline Postponed

NEW YORK, New York (Sept. 16, 1997) — The deadline for America's Cup challengers to post a $250,000 performance bond has been extended to January 31, 1998. The decision was made at yesterday's meeting of the America's Cup Challengers Association (ACCA) at the New York Yacht Club in New York City.

The original deadline was to be Oct. 1, but it was postponed after the challengers collectively said they wanted more progress made toward obtaining sponsorship and television coverage, an area in which significant progress is now being made.

The Challenger Selection Series is set to begin in October 1999, in Auckland, New Zealand. The America's Cup match is scheduled to begin Feb. 26, 2000.

Currently, there are 18 challengers from 10 countries, including six from the United States. In the event that all the challengers make it to the starting line, it will be a record number for the America's Cup. (There were 13 challengers in Perth in 1987.)

For additional information, see the America's Cup XXX Fact Sheet.

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