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Emirates Team New Zealand CEO Grant Dalton - Source: Photosport -
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The naming of the venue for the next America's Cup can't come soon enough for Team New Zealand.
The Golden Gate Yacht Club, who back defenders BMW Oracle Racing, are expected to make an announcement next month, with the club's home city, San Francisco, having the inside running but facing competition from Italy.
Two weeks ago, the GGYC and local officials finalised a host city agreement, but the deal has to be ratified by the Board of Supervisors, the city's legislative arm.
Oracle have already said the next cup regatta will be in 2013 and will be raced in a new class of boat known as the AC72, a 72-foot (22-metre) wing-masted catamaran.
But until the venue is known, it's a waiting game for Team New Zealand boss Grant Dalton as he tries to put the pieces together for a new campaign.
Dalton, who is in Dubai for the final regatta of the Louis Vuitton Trophy series, said his syndicate had gone through a due diligence process.
The conclusion was that a 2013 challenge was feasible if the money could be raised, and a key driver for sponsorship was the location of the event.
"We need a venue before I can start doing anything about it," Dalton said.
"You have a discussion with a sponsor and say 'it's 2013 and it's cats', and they sort of get that. 'Where is it?' 'Not sure.' So any commercial team is caught by that."
Last month, both Britain's Team Origin and Team Germany announced they would drop plans to challenge for the Auld Mug.
Both cited increased costs associated with a switch from a monohull, and the advantage that Oracle had from having sailed a wing-masted trimaran in taking the trophy off Alinghi.
While Team New Zealand haven't confirmed for definite that they will be at the start line, Dalton said they had "some guys doing some work for us through till Christmas".
"It's not design work, it's just where the technology exists, how you might build one, materials, what boats you need to learn on - just so we have a play book.
"If we go ahead, we're not starting from trying to turn the engine on. At least the engine is warmed up. So we are going through that process at the moment."
As for choice of venue, Dalton would be happy if San Francisco got the nod.
"We assume it's San Francisco, we want it to be San Francisco," he said.
"It's the right venue. It's got an amphitheatre setting. It's a big market. It's not too far from New Zealand."
Dalton said Team New Zealand's other project, competing in the 2011-12 Volvo Ocean Race in a joint campaign with Spanish-based footware manufacturer Camper, was on track.
Funding was in place and construction of a Volvo Open 70, to be skippered by Australian Chris Nicholson, was on schedule for a launch date of early April.
..Robert Lowe travelled to Dubai courtesy of Emirates Airlines.
