Australia out of America's Cup

Hopes of an Australian team taking part in the 34th America's Cup regatta in San Francisco in 2013 were dashed today when the Aussies were not among the eight syndicates announced as being likely starters in the event.

With the costs of mounting a meaningful challenge in the radical new 72-foot wing-sailed catamarans to be used for the Cup estimated at more than $50 million, seven of the originally-proposed syndicates have dropped out.

There has been no statement yet by the Australian syndicate which paid a $25,000 entry fee in January but failed to make the June 10 deadline for paying a deposit on an AC45 catamaran -- the boats to be used during lead-up races this year and next year. A fully-fitted AC45 costs about $1 million.

While Australia will not be represented, China and South Korea have made the list of challengers, along with two syndicates from France and one each from Sweden, Italy and New Zealand. Another Italian syndicate is expected to be named among the challengers by the end of the month.

The 34th America's Cup regatta will be unlike any before with the America's Cup holder, US computer billionaire Larry Ellison, planning to make the event a moving sporting circus very much like Formula One car racing. The actual America's Cup regatta, planned for September 2013 in San Francisco, will be the final event in this "World Series" grand prix circuit and possibly the only one sailed in the full-sized AC72 catamarans.

The teams representing China, France (with two teams), Italy, New Zealand, Republic of Korea, Sweden and the USA made their first appearance together in the host city of the 2013 America’s Cup at a press conference on Wednesday where organisers introduced the line-up. The ninth team will be announced at a press conference on June 23rd in Europe.

"This field of competitors is truly global, representing a mix of established teams as well as new ones in sailing’s top event," Australian sailing legend Iain Murray, now Regatta Director for the 34th America’s Cup and CEO, America’s Cup Race Management, said. "The new vision for the America’s Cup has created the opportunity for teams from Asia, Europe, Oceania and North America to enter the Cup and compete in dynamic, new, wing-sailed catamarans, in an exciting race format."

Among the challenging nations, Republic of Korea is new to the America’s Cup, while China is entering for just the second time.

San Francisco Mayor Edwin M. Lee welcomed the teams to San Francisco, home of two 2012 America’s Cup World Series events, and the Louis Vuitton Cup, the America’s Cup Challenger Series. The Louis Vuitton Cup will be sailed from July 13 to September 1 and the America’s Cup regatta from September 7 to 22, both in 2013.

"San Francisco welcomes the nine international sailing teams who will take to San Francisco Bay to compete for the America’s Cup trophy," Lee said. "They will be joined by hundreds of thousands of spectators from around the world for an unparalleled dramatic sailing event. The America’s Cup is an extraordinary opportunity to leverage our region’s resources to generate much needed revenue for our City and create jobs. We are moving rapidly to meet our commitments to host a spectacular 34th America’s Cup in 2013."

The nine competitors will face-off for the first time in August at the inaugural America’s Cup World Series event in Cascais, Portugal where a fleet of ten AC45s will do battle in both fleet and match racing. ORACLE Racing, the America’s Cup holder representing the Golden Gate Yacht Club, will enter two teams in the 2011 AC World Series.

"In only 11 months since the inception of the AC45, we designed, built and tested this fleet of ten race-ready boats for our first season," Murray said. "The America’s Cup World Series is now. The fleet is on its way to Portugal and ORACLE Racing is here on the Bay giving San Francisco a sneak preview of the dramatic racing to come in August. Thanks to the teams for stepping up to this new challenge -- the fun is about to begin."

The inaugural AC World Series competition will be held August 6-14 in Cascais, Portugal. The second stop on the circuit will be Plymouth, England on September 10-18, followed by the final stop in 2011 in San Diego.

Richard Worth, the chairman of the America’s Cup Event Authority said everything about the new America’s Cup is designed around transforming the sport of sailing and making it exciting for both television viewers and spectators at the events.

The official competitors for the 34th America’s Cup are:  China -- China Team, Mei Fan Yacht Club; France -- Aleph Équipe De France, Aleph Yacht Club; France -- Energy Team, Yacht Club de France; Italy -- Venezia Challenge, Club Canottieri Roggero di Lauria; New Zealand -- Emirates Team New Zealand, Royal New Zealand Yacht Squadron; Republic of Korea -- Team Korea, Sail Korea Yacht Club; Sweden -- Artemis Racing, Kungliga Svenska Segel Sallskapet; United States -- ORACLE Racing, Golden Gate Yacht Club (Defender).