The Alfa Nero, a luxurious superyacht previously owned by the government, has finally been sold after a long period of unsuccessful attempts to find a buyer.

Prime Minister Browne confirmed in Parliament that a deposit has been made

The yacht was sold for a total of US$40 million, with the sale being overseen by Port Manager Darwin Telemaque. The broker handling the sale is set to receive 4.5% of the sale price.

Prior to this successful sale, there were several legal challenges and setbacks. Former Google CEO Eric Schmidt initially won the bid to purchase the Alfa Nero but withdrew from the deal due to legal issues.

The yacht was then put up for auction and was sold for $67,000,677 after being declared abandoned by the government of Antigua and Barbuda.

Legal complications continued, with the government facing challenges from both a secondary party claiming ownership and the runner-up bidder, Warren Halle.

Halle alleged that the government breached an agreement to sell the vessel prior to the auction.

Despite these challenges, the sale was eventually completed through private treaty, with the government taking responsibility for all debts associated with the Alfa Nero.

The prime minister also addressed misconceptions, denying claims of exorbitant legal fees and commissions paid to local agents, stating that negotiations had led to reduced costs.

He further revealed that the new buyer has been given indemnification against future liability, providing clarity on the transaction’s terms and conditions.