Dennis Conner, four time winner of the America's Cup yacht racing series, apparently will not be fielding a team in the next Cup regatta in 2007. Citing the extreme cost of running a competitive team, Conner indicated he would just let today's entry deadline come and go.
The America's Cup challenge is now officially the domain of billionaires who can afford the $100 million needed to race. It appears that only one or two US-based syndicates will enter the series. The first is San Francisco-based BMW Oracle Racing. This team is backed by Silicon Valley billionaire Larry Ellison and the German automaker BMW. The other, who must still secure additional financial backing, is called Sausalito Challenge. It appears unlikely that they will be able to get the needed funding by today so it's possible that the series will include just one U.S. team.
I have a meeting to get ready for so I gotta go.
Have a Great Weekend, Everyone - Aloha!
