An entity plans to challenge the government in court next week to seize the $40 million collected from the sale of the Alfa Nero, Prime Minister Gaston Browne revealed.
“We got the $40 million, and we used the money to pay our debt. I am told that some entity is going to court next week to seize the money; that’s fine, it is already spent, so I don’t know what they are going to steal,” Browne remarked.
However, he stated the money has already been spent. The government sold the vessel to a Turkish billionaire, using the funds to pay off the superyacht’s accumulated debt over the past two years.
Despite initial obstacles that blocked the boat’s sale and caused the top two bidders to withdraw, the transaction was eventually finalized. Browne, who also serves as the country’s finance minister, noted that although several bids had been received over the years, they were deemed insufficient.
“The Turkish billionaire who now owns the Alfa Nero’s first offer was US$25 million,” Browne said. The buyer eventually increased the bid to US$40 million. Just over a year ago, the boat was valued at about US$120 million. Besides depreciation, the superyacht had accrued significant debt, with fuel costs alone exceeding US$3 million.
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