Artemis Racing are looking to move their entire operation to Bermuda this year, America’s Cup organisers have confirmed.

The home base of the Swedish challenger for the 35th America’s Cup — to be hosted by Bermuda in 2017 — is in San Francisco.

But the America’s Cup Event Authority confirmed yesterday that the team are keen to move their operation to Bermuda through the America’s Cup regatta.

The potential move would see additional Artemis Racing staff coming to the Island earlier than anticipated — a boost for the local economy.

“It would mean the possibility of millions of additional dollars spent in Bermuda,” Dr Grant Gibbons, the Minister of Economic Development, told the House of Assembly yesterday.

The full Artemis Racing team base will require six additional acres of space.

Among the team’s options is the former US Naval Base at Morgan’s Point, which stretches out into the Great Sound, the racing venue for the America’s Cup.

“The team has been looking at different options and that’s one that has raised its head, for sure,” David Tyler, Artemis Racing spokesman, told The Royal Gazette. Moving their operation here will allow Artemis Racing more time to acclimatise to the conditions in the Great Sound, which will be vital to the team’s bid to win the “Auld Mug”, the oldest trophy in international sport.

“After spending some time here on the Great Sound it has confirmed our original thoughts that this is a tricky venue and being here, learning the racecourse, will give us the best chance possible to win the 35th America’s Cup,” Nathan Outteridge, Artemis Racing helmsman, said.

Iain Percy, Artemis Racing team manager, said he and his colleagues had been “overwhelmed” by the warm welcome and enthusiasm they had received from the community.

Mike Winfield, chief executive of ACBDA, added: “We look forward to working with Artemis Racing in helping relocate their full team to Bermuda and doing what we can to assist them in setting up their full operational base here.”

For the past few weeks, Artemis Racing have been sailing out of their temporary base at the Royal Naval Dockyard, where all of the teams will be based in 2017.

Meanwhile, Dr Gibbons, who spearheaded Bermuda’s bid to host the next America’s Cup, also announced yesterday that Artemis Racing’s request for a concession order for relief from work permit fees and payroll tax had been approved.

Oracle Team USA, who have already moved into their Bermuda headquarters in Dockyard, is the defender of the prestigious America’s Cup.

• For the full ministerial statement, click on the PDF link under “Related Media”.