It looks a lot like the hugely successful challenger-selection series that was an integral part of every America's Cup from 1983 to 2007. Same sailors, same boats, same main sponsor.
But the Louis Vuitton Trophy, the new racing circuit behind yesterday's announcement that Dubai International Marine Club would play host to one of its 14-day regattas, in November, is in many ways very different.
It had to be.
Launching an America's Cup challenge with even the remotest hope of being competitive has become hugely expensive.
While none of the teams has ever stated exactly what it cost them, some estimates have been made by those who would have good reason to know: Grant Dalton, the chief executive of Emirates Team New Zealand (ETNZ), has said that BMW Oracle's 2007 challenge in Valencia must have cost about US$200 million (Dh734m).
It is widely believed that Emirates Airline's sponsorship of Mr Dalton's team is worth some $35m and that is in addition to the money from a syndicate of about 30 very wealthy private backers and numerous smaller commercial sponsors. All of which, observers believe, could add up to an operating budget of $150m.
But it was not the money that prompted Louis Vuitton to disassociate itself from the America's Cup, in 2007. It was the court battles that have scuppered the event since Alinghi won in Valencia in 2007.
It is hard to imagine how depressing it was for the would-be challengers and sailors to have no realistic possibility of competing at that elite level for the foreseeable future.
Enter a handful of passionate individuals, notably Mr Dalton and Bruno Troublé, and the seed of a new racing circuit was planted, with the staging of the Louis Vuitton Pacific Series in Auckland last February.
Planned as a one-time event, it brought together 10 teams of would-have-been America's Cup challengers for a match-racing series, sailed in America's Cup-class boats loaned by ETNZ.
At the time, Mr Troublé said that it was "our duty to bring a bit of life into things and enable the teams to sail again".
It was also hoped that the event would encourage the sponsors to stay with the sport.
Mr Troublé's role, in fact, has been much more than his current description as a "spokesman" for the new racing circuit would suggest: as the skipper of a series of French challengers for the America's Cup in the late 1970s and early 1980s, he was the catalyst for Louis Vuitton's involvement, persuading the then-president of the luxury goods company to sponsor a more structured challenger-selection series, named the Louis Vuitton Cup.
Mr Troublé has continued to be a catalyst.
The success of the Auckland event has led to the Louis Vuitton Trophy series, which is organised in conjunction with the World Sailing Team Association (WSTA), an organisation of America's Cup-level teams that was formed last year.
The first regatta of the new series was held in Nice, France, last November.
The Louis Vuitton Trophy will comprise just four events per competition year, to be held in locations around the world.
Upcoming regattas will be held in Auckland in March; La Maddalena, Italy, in July; Dubai in November; and Hong Kong in February 2011.
The intent, says Christine Belanger, corporate-events director at Louis Vuitton, is to maintain a level of exclusivity.
Being chosen to host an event does not necessarily mean being a permanent host; it is a right that must, in effect, be re-earned.
With millions of dollars of potential business activity at stake, it is a coveted opportunity for host cities. The organisers estimated that the Pacific Series regatta injected $12m into the Auckland economy.
Paul Cayard, the chairman of WSTA, said limiting the number of regattas also protected the teams' and sailors' interests by taking into account the existing calendar of other events, notably RC44, which will be held in Dubai again in March, and the Mediterranean-based TP52 series.
While Yves Carcelle, the chairman and chief executive of Louis Vuitton, insisted the new series was "not intended to compete with or replace" the America's Cup, the new circuit enjoys a similar level of prestige, partly as a result of the French company's name having been so closely linked to sailing's oldest trophy and partly because of the level of competition it involves.
America's Cup sailing is the pinnacle of yachting. Mr Dalton said the "professionalisation" of the sport in the past 25 years has greatly raised the game. "It's similar to rugby," he said. "Once racing yachtsmen could earn their living from the sport, they could dedicate themselves fully to it.
"As a result, they are much more skilled than ever before, and much more focused and competitive."
One important way in which the organisers of the new series keep expenses manageable is by using the fleet of yachts that competed in the America's Cup until 2007. That way, expenses are largely limited to hiring crews and moving them around the world.
For spectators, sponsors, host cities and, above all, the competitors, the series can only be good news.
As Dean Barker, the ETNZ skipper said when he was in Dubai for the RC44 regatta in November: "Our primary goal is to win the next America's Cup. At least, the next we can be involved in. While it's tangled in legal battles it's hard to know what the future holds. But in the interim everything we do is about keeping the team fresh and at the top of its game."
In hosting the Louis Vuitton Trophy races in November, Dubai International Marine Club and Emirates Airline are enabling Barker and his peers to do just that.
slane@thenational.ae
POWERWASH%20SIMULATOR
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Hotel Silence
Auður Ava Ólafsdóttir
Pushkin Press
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Company%20Profile
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A list of the animal rescue organisations in the UAE
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Martin Sabbagh profile
Job: CEO JCDecaux Middle East
In the role: Since January 2015
Lives: In the UAE
Background: M&A, investment banking
Studied: Corporate finance
Company%20profile
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Western Region Asia Cup T20 Qualifier
Sun Feb 23 – Thu Feb 27, Al Amerat, Oman
The two finalists advance to the Asia qualifier in Malaysia in August
Group A
Bahrain, Maldives, Oman, Qatar
Group B
UAE, Iran, Kuwait, Saudi Arabia
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
Specs%20
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Race card
6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m
UEFA CHAMPIONS LEAGUE FIXTURES
All kick-off times 10.45pm UAE ( 4 GMT) unless stated
Tuesday
Sevilla v Maribor
Spartak Moscow v Liverpool
Manchester City v Shakhtar Donetsk
Napoli v Feyenoord
Besiktas v RB Leipzig
Monaco v Porto
Apoel Nicosia v Tottenham Hotspur
Borussia Dortmund v Real Madrid
Wednesday
Basel v Benfica
CSKA Moscow Manchester United
Paris Saint-Germain v Bayern Munich
Anderlecht v Celtic
Qarabag v Roma (8pm)
Atletico Madrid v Chelsea
Juventus v Olympiakos
Sporting Lisbon v Barcelona
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
Oppenheimer
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NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
Men from Barca's class of 99
Crystal Palace - Frank de Boer
Everton - Ronald Koeman
Manchester City - Pep Guardiola
Manchester United - Jose Mourinho
Southampton - Mauricio Pellegrino
UAE Falcons
Carly Lewis (captain), Emily Fensome, Kelly Loy, Isabel Affley, Jessica Cronin, Jemma Eley, Jenna Guy, Kate Lewis, Megan Polley, Charlie Preston, Becki Quigley and Sophie Siffre. Deb Jones and Lucia Sdao – coach and assistant coach.
Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital
RACE CARD
5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
