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Sailing - 'slap in the face': Faye resigns in protest against America's Cup move

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Businessman Michael Fay, who has taken on three America's Cup bids, has launched the Royal New Zealand Yacht Squadron in protest at the move of the 'Old Mag' 37th defense to the Spanish city of Barcelona. I quit.

His RNZYS and Team New Zealand, who retained the America's Cup last year with a win over Italy's Luna Rossa, have received his approval from the New Zealand Government and Auckland Council to keep the 2024 event. It rejected a bid of 100 million New Zealand dollars ($60 million). home water.

Fay and his two key players, Alan Sefton and Andrew Johns, who have seen New Zealand emerge as an America's Cup powerhouse over the past four decades, announced in a letter to the Admiralty that his RNZYS He has resigned from his longtime membership, Radio New Zealand reported.

``For most of the 40 years New Zealand has enjoyed an emotional magic carpet ride at the event. Because we have risen to the challenge of dominating the world's biggest sporting event…” read the letter.

"However, the Royal New Zealand Yacht Fleet sells out its right to host the event when the country stands to reap substantial rewards for their efforts and achievements.

" It's a slap in the face for us, everyone, and everything that has ever happened."

The local government of Barcelona will host the America's Cup in March in the Mediterranean city, which will bring about 900 million estimated to have an economic impact of $1 billion.

($1 = 1.6207 New Zealand dollars) (reported by Nick Mulvenney, edited by William Mallard)