Australia out from next America's Cup

Australia, who famously won the America's Cup in 1983, has not been in the fray since they last competed in 2000 and now the dream of getting a new cup has definitively gone. Belcher and the talented young crew selected were informed of the decision during a meeting last Friday night.

21 July 201410:07·2 min read·By Gringo Media

Surprising but true, Australia won't be taking part in the 35^th America's Cup, which will be held in 2017, the most important and famous sailing sport event in the world, as it has been reconfirmed the last week. The intended team for the next Cup, Team Australia, was going to be led by Olympic gold medallist and World Sailor of the Year, Mat Belcher.

The reasons to make that decision are the mounting costs of competing, which were unaffordable and finally, and forced the withdrawal. That's what Billionaire baron Bob Oatley, Hamilton Island Yacht Club owner, recognised: “Ultimately our estimate of the costs of competing was well beyond our initial expectation and our ability to make the formula of our investment and other commercial support add up”. Belcher also said that uncertainty had made it difficult for Team Australia to attract sponsors.

Team Oracle boss Sir Russell Coutts and Director of the America’s Cup has confirmed Team Australia intends to withdraw from the America’s Cup. “We are very disappointed to be receiving this news”, he said. “We were excited to have Australia as a challenger and we were also looking forward to the prospect of holding America’s Cup World Series events in Australia”. But finally he left an open window to accept a change of mind of the team in the future: “We could do a late entry”

It is believed Prada (Italy) and Artemis Racing (Sweden) have already confirmed entries. Artemis was Challenger of Record at the last America’s Cup.

By Santi Ivar

Sources:

http://www.smh.com.au

http://news.brisbanetimes.com.au

Photo: sbs.com.au