America's Cup Management announced on July 5, 2007 that they anticipated a revenue surplus of approximately 30 million euros would be available for distribution to the 11 participating teams to provide the teams some financial continuity and encouragement to plan their participate in the 33rd America's Cup. Under the term of the protocol issued by "America's Cup Management" for the 2007 event, 50% of the net surplus revenues are retained by the Defender (i.e. Alinghi) and the other 50% are distributed on the same basis as for the previous three editions of the America's Cup. Of the remaining 50% then 40% is divided equally amongst all Challengers, 30% is divided equally amongst all Challenger semi-finalists in the Challenger Selection, 20% divided equally amongst both Challenger finalists in the Challenger Selection and 10% to the winner of the Challenger Selection.