9 September 2013
Watson, Farley & Williams (“WFW”), a leading international law firm, is pleased to announce that it has recently provided legal and tax advice to the ‘All In Racing’ sailing team, supporting their quest to win the first ever Red Bull Youth America’s Cup. The race is a significant stepping stone for young sailors, aged 19 to 24, as they gain recognition among the rising stars in this competitive sport.
The ‘All In Racing’ team qualified in February 2013 after an elimination round involving twelve junior teams comprising six sailors each. Following the withdrawal of the German Sailing Association (Deutscher Segler-Verband) from the Red Bull Youth America’s Cup, due to an accident in an America’s Cup training session, the German sailors decided to raise their own funding and founded ‘All In Racing’.
‘All In Racing’s skipper Phillip Buhl and helmsman Erik Heil oversaw the fundraising and all preparations necessary to participate in the Youth America’s Cup final, held in San Francisco, USA on 1-4 September 2013.
WFW Munich partner Daniel Marhewka and Hamburg-based associate Dr. Jan-Eike Andresen assisted the team in all legal aspects of their participation including the foundation of a company and drafting of sponsorship and sailing agreements. WFW Hamburg tax partner Verena Scheibe advised on tax matters.
Racing in high performance, wing-sailed catamarans smaller, but comparable to those which are used in the prestigious America’s Cup World Series, the ‘All In Racing’ team achieved a commendable ninth place overall. Given the challenging backdrop to entering the finals and their determination to succeed without a trainer, coach or any other team support in San Francisco, the team went home with their heads held high.
WFW Munich partner Daniel Marhewka commented: “The team members of ‘All In Racing’, supported by all those who believed in the project, did a great job. As the only team without a coach or support staff in San Francisco they can be even more proud of what they achieved. We are very pleased that we could contribute to this success of the ‘All In Racing’ team. Beating the odds to participate in the Red Bull Youth America’s Cup places them among the most talented young sailors in the world.