Would-Be Cup Defenders Asked to Put Up or Shut Up by June 28

The committee in charge of overseeing the U.S. defense of the America’s Cup Thursday set a June 28 deadline for racing syndicates to show proof that they are serious contenders.

The announcement followed two days of meetings at the San Diego Yacht Club between the defense committee and representatives of nine potential defense syndicates.

Syndicates have been asked to demonstrate by the deadline that they have the initial financial resources to mount a defense effort by:

--providing written evidence that they have the commitments from sponsors, donors and other revenue sources to raise $6 million toward the start of the construction of a boat by the end of the year.

--posting a $150,000 performance bond that would be forfeited if the syndicate does not have a valid boat on the starting line for the defense trials expected to begin in January, 1992. This bond would be the first of two required. The committee previously said that a $150,000 bond would have to be posted by July, 1991.

Those who fail to meet the requirements will be ‘excused from further competition,” said Tom Ehman, general manager of the America’s Cup Organizing Committee. Ehman said these groups would be dropped from committee mailings, meetings and other functions. But he added that the committee reserves the right to accept additional groups after the June 28 deadline.

“We don’t want to exclude someone who could help us,” Ehman said. “But there is no way the U.S. can support 10 syndicates.”

The deadline will help potential corporate backers focus on the more-organized defense syndicates, Ehman said.

“We’re beginning the fish-or-cut-bait time,” Ehman said. “There is confusion in the corporate marketplace with so many groups contending for resources.”

Ehman said that at least three potential syndicates were warned by the committee that they appear to be in difficulty with regard to meeting the requirements; Ehman declined to name the groups.

He said one potential group, Pride of America Defense of Los Angeles, has been dropped after failing to attend the meetings this week. Phil Smith, head of the group, could not be reached for comment. Ehman said a ninth potential defender was added this week when David Lowery, a North County businessman, sent a representative to the meetings.

Ehman said that the Lowery group had the potential to be a serious defense team and identified four potential defense syndicates as having done good early preparation: Team Dennis Conner, run by the three-time Cup winner from San Diego; Isler Sailing International, headed by former Conner navigator Peter Isler of San Diego; Larry Klein’s Triumph America Foundation, San Diego, and Yankee Syndicate, Cleveland.

The meetings this week also were used as a time to lobby syndicates to firm up their commitments to the Partnership for America’s Cup Technology (PACT), a research group designed to help the syndicates pool some of their design work. The group is headed by John Marshall, who led the design team for Conner’s successful 1987 and 1988 America’s Cup efforts.

America’s Cup Notes

Phil Freedman, founder of the San Diego-based Betsy Ross defense syndicate, has reduced his role to that of an adviser, said Tom Ehman, general manager of America’s Cup Organizing Committee. Shelley Stepanek has taken over the lead role with the group. . . . The Leningrad Yacht Club, which was given a two-week extension until Saturday midnight to file its $25,000 challenger entry fee, still has not paid. But Ehman said the committee still expects the club to meet the new deadline. If it does, that will officially increase the number of potential challenger syndicates to 21.