On behalf of myself, my family, my staff, my business, and on behalf of all my fellow Bermudians, I want to give thanks to the Minister of Economic Development, Grant Gibbons, and his team for all the initiative they demonstrated and all the hard work they put in to have Bermuda selected as the host for the 35th America’s Cup in 2017 and venue for a number of the preliminary events leading up to this.

I would also like to thank Larry Ellison, the owner and chairman of Oracle Team USA; the current holder of the America’s Cup, Sir Russell Coutts, the chief executive of Oracle Team USA; and General Harvey Schiller, the Commercial Commissioner for the America’s Cup, for selecting our little Island in the middle of the Atlantic to host the 35th America’s Cup.

Significant thanks must also be given to part-time Bermuda resident Michael Bloomberg, who did much behind the scenes to assist in having Bermuda selected.

Gentlemen, collectively you have changed the course and the destiny of Bermuda.

Bermuda’s motto, conceived with forethought and clairvoyance, “Quo Fata Ferunt”, is translated from Latin to read “whither the fates carry us”.

Once again fate has seen fit to shine favourably on us at a time when we most needed it and least expected it.

Among other things, Bermuda being selected to host the America’s Cup has come as an economic miracle for Bermuda. If truth be known, while just a few years ago we were considered one of the richest places in the world with one of its highest per capita incomes, we lost that position. We were deep in the hole with little or no way out. I informed Minister Gibbons that he had pulled a “rabbit from the hat with a silver bullet clenched between its teeth”.

For Bermuda to be chosen to host the 35th America’s Cup is a game changer and a lifesaver for us all. For many other countries the positive economic impact would have been a mere “drop in the bucket”. For us, it has every chance of filling up what otherwise would have been an empty bucket.

In the global history of sport, never has the hosting for such a large global sports event been handed to such a small place. The America’s Cup ranks as the third largest global sports event after the Olympics and the FIFA World Cup, yet Bermuda ranks in size as the 230th country or dependent territory.

I know that there are those who have still not bought into this and do not understand what the America’s Cup is and what hosting it does for Bermuda. To some extent this article is also addressed to you.

I have heard some say that “the America’s Cup is a rich white man’s sport, there is nothing in it for me”. That is partially true. It is currently a rich white man’s sport but it need not remain that way. By hosting the America’s Cup Bermuda could change all that, if we all embrace it and buy in. We are a country with a distinct black majority. The America’s Cup is ours for at least the next two and a half years.

The world TV audience will see us all and all of Bermuda. We can change the viewing and supporter profile of the Cup. It is not true to say that there is nothing in it for all of us.

The late US President John F. Kennedy said: “All the boats in the bay rise and fall with the tide.” The tide has been very low for us for a long time. The tide has now changed. You can already see signs of it starting to come back in and rise. We will all rise together.

Ask a real estate agent about the requests to rent houses from the members of the challenging teams, ask schools about the request for new places, ask taxi drivers who have already talked to the members of the America’s Cup organising committee, ask hotels about requests for future bookings, ask the event planners for our international business sector who are already planning client events during the racing itself — they will all tell you that the tide is rising.

The building of two new hotels, the further investment by the Green family in the Hamilton Princess has all been announced since Bermuda was selected. Where there was no hope, now there is hope. Where there was no confidence, now there is confidence. We were in a tunnel with no light, now the light ahead of us is bright. There is significant benefit in hosting the 35th America’s Cup for us all. Hosting the America’s Cup will create what we need now, more jobs.

The world’s eye will be on Bermuda for the next two and a half years. It is now time for each and every one of us to all hold each other’s hands and move forward as one, to embrace the hosting of the America’s Cup. How successful we are at doing that will determine how much of a success hosting the America’s Cup will be for Bermuda and for all Bermudians. We need to prove that we deserve the honour of being selected to host the 35th America’s Cup.

Last Friday as I walked along Front Street I saw taxi number T1612, which just happens to be the last four digits of our office number and the date recognised by historians as the real date of settlement of Bermuda. Emblazoned across his back window was a digital picture of the sleek, black, high-tech Team New Zealand foiling catamaran that was the losing contender in the 34th America’s Cup.

I was so impressed that I stopped to talk to the owner and driver, Paul Trew. I told him how impressed I was by his initiative. It was clear in our ensuing conversation that he understood the economic promise of the America’s Cup. He understood the economic impact.

It is his dream to drive for one of the challenging teams and, if he does, he plans to paint his whole taxi in the team colours. I hope he gets this chance because he understands it. We need everyone to be like Paul Trew.

I accept that high-speed America’s Cup sailing is not something currently well known to the majority of Bermudians. I was glued to my TV throughout the entire race series for the 34th America’s Cup, but then I was brought up on the America’s Cup. The Hollis family built fast ocean crossing schooners out of cedar in Bailey’s Bay in the 1800s. My great great great grandfather Lawrence Hollis was the sailing Master of the first HMS Bermuda. His son and my great great grandfather, William Thomas Hollis, built the last sailing HMS Bermuda on the Bailey’s Bay side of Harrington Sound in 1847 for the Royal Navy. She was launched on December 19, 1847. The newspaper of the day described her as follows: “The Bermuda is a very fine looking vessel of about 185 tonnes, is most substantially built and will, in all probability be a fast sailor”.

Flatts Bridge had to be taken down to let her out and to be towed to the Royal Naval Dockyard Ireland Island — now the venue for the 35th America’s Cup — for final fitting out by the Royal Navy.

The schooner America was the first winner of what would come to be known as the America’s Cup. She was launched in May 1851 only three and a half years later and was of a strikingly similar size and proportion.

The Bermuda-built schooners and sloops of the period were considered some of the fastest in the world. My great great grandfather and his son, William Algate Hollis, after hearing of the famous win by America were of the view that HMS Bermuda could have beaten her and saved British pride, but then we would never have had the opportunity to host the modern America’s Cup in 2017.

HMS Bermuda was lost on January 19, 1855, when she hit a reef at night off North East Caicos Island. My family has followed with keen interest the America’s Cup ever since. I was brought up on it. Listening to races on the radio and later following mark rounding’s on telex reports.

When the Australians finally won it in 1983 to bring to an end the longest winning streak in the history of sport, I followed every race on the edge of my seat. It was a best 4 out of 7 series. It got to 3-3. I was sitting as an acting Magistrate at the time. I adjourned the case I was hearing halfway into the proceedings and sprinted down to Disco 40 to watch the finish of the race live on a large screen. Australia II beat Liberty across the line by 41 seconds. As most Bermudians at the time traditionally supported Australia, the party went well into the night!

When Australia defended the Cup in the 26th America’s Cup series in Fremantle, Australia, in January and February 1987, I was in Antigua and would get up at 4am every race day to watch the coverage live on TV. In those days a typical race lasted more than an hour and was 22.6 miles long. In the 34th America’s Cup in San Francisco last year, the average duration of a race was 25 minutes and the course was only 10 miles long. America’s Cup racing is now more akin to Formula 1 car racing.

While I, along with a number of past and present sailors, have this sort of knowledge of the America’s Cup, the vast majority of Bermudians do not. However, we all need to.

For economic reasons alone every Bermudian must feel that “the America’s Cup is me”. We need to teach the history and the rules and so on in our schools. We need to have TV specials to educate the public. I have suggested to the Minister of Economic Development and Education that a very readable, pocket-sized, soft-covered guide book needs to be prepared that sets out the history of the America’s Cup, Bermuda’s involvement, the forthcoming calendar of events, the basic rules of the America’s Cup, the technology of the current and expected competing boats and the make-up and background of both the defending Team Oracle and the challenging teams. Every one of us should have a copy and study and memorise it so that the America’s Cup should become second nature to us all — as natural as breathing.

Come on Bermuda, it is all hands to the ropes, all pulling in the same direction to make the 35th America’s Cup the greatest ever held and putting Bermuda back on the map as the most sought after destination in the world.

WENDELL HOLLIS is president of the HCS Group Ltd