“For Larry Ellison, the only thing better than winning the America’s Cup is winning it against all odds,” Noel Randewich reports for Reuters. “Ellison’s Oracle Team USA was within an inch of losing the world’s oldest international sporting trophy to Emirates Team New Zealand just a week ago, only to come back on Thursday with the eighth straight race it needed to retain the Cup.”
“The epic battle over the past few days has been a major vindication of the Silicon Valley entrepreneur’s much-maligned vision of how to modernize the competition,” Randewich reports. “For months ahead of September’s 34th America’s Cup finals, Ellison, known for his brash personality and aggressive business tactics, weathered near-constant criticism over the cost, complexity and potential dangers of the 72-foot catamarans he chose for the event.”
Randewich reports, “Emirates Team New Zealand spent about $100 million on its failed America’s Cup campaign, and while Ellison refused to comment on suggestions he spent much more than that, he agreed that costs must be brought down in order to attract more challengers to future regattas.”
Read more in the full article here.
MacDailyNews Take: Crazy Larry strikes again!