Posted at 7:06 a.m., Friday, August 3, 2007
Sailing: Luna Rossa won't compete in '09 America's Cup
Associated Press
MILAN, Italy — Luna Rossa of Italy will not compete in the 2009 America's Cup, marking Prada's exit from the competition after 10 years."Participation in the next America's Cup was carefully analyzed, and while significant human and financial resources are already available, it was decided that, after three campaigns, a cycle had come to an end," team boss and Prada chairman Patrizio Bertelli said in a statement today.
The team, which was established by Bertelli in 1997 and has an estimated budget of $123 million, has competed in three Cups and was runner-up to Kiwi boat New Zealand in 2000 in Auckland.
"It has been an unforgettable experience, both from a sports and human perspective," Bertelli said.
"From a corporate standpoint, participating in these three campaigns has allowed us to acquire and develop precious skills, experience and visibility for our group. I hope that another Italian team will be able to compete in the next edition and to keep Italy at the top of the game in the America's Cup."
