N.Z. entry in big yacht race

Press, 19 April 1979, Page 32

N.Z. entry in big yacht race

I PA Auckland The New Zealand $500,000 challenge for the 1981 round-the-world yacht race is “go.” Bruce Farr has been commissioned to design the 67ft challenger which will be a “people’s boat” built in Auckland and campaigned exclusively by New Zealanders. Peter Blake, aged 30, the Devonport yachtsman who has done the previous two round-the-world events (in 1973 and 1977) and who now has the British ocean racer Heath’s Condor, will skipper the challenger and oversee its construction and preparation. The challenge committee convener, Mr Warwick White, announced details of I the decision to go ahead with the challenge at a press conference yesterday. He stressed that this was a New Zealand venture in which his committee would seek the support of the whole country. The challenge would be funded by syndication (400 $lOOO shareholders in the syndicate), gifts and sponsorship. I The boat will be sold after ( the race, probably overseas] and possibly at a profit. The ‘

proceeds of the sale will be applied to repaying syndicate members. “This is important,” Mr White said. “It means supporters have every chance of getting at least most of their money back. So, what we 1 are in fact seeking from | them is an interest-free lloan." | Any surplus in the final 'fund would go to international challenge funds of the New Zealand Yachting Federation. Design agreements with Mr Farr were signed yesterday. Construction will begin in January with a tentative launching date in September next year. The boat will do shakedown trials before taking part in the 1980 SydneyHobart classic. It will then return to Auckland by way of the southern ocean, around the Antipodes Islands. In Auckland, final alterations and adjustments will be made before the yacht is sailed to Britain for the August, 1981, start of the Whitbread-sponsored race. The challenger will do the : transatlantic race as a final I shakedown event on the way 'to Britain.