America's Cup: Challenger of Record pulls pin in unprecedented move

11:35 AM Thu 12 May 2011 GMT

'As USA crosses the finish Line, GGYC accept the Club Nautico di Roma as challenger of Record , l. to r. : Melinda Erkelens (GGYC) - Norbert Barjurin (GGYC) - Marcus Young (GGYC) - Alessandra Pandarese (Club Nautico di Roma)- Vincenzo Onorato (Club Nautico di Roma)***14/02/2010 - Valencia (ESP) - 33rd America's Cup - BMW ORACLE Racing - Race 2 - - As USA crosses the finish Line, GGYC accept the Club Nautico di Roma' BMW Oracle Racing &copy Photo Gilles Martin-Raget Click Here to view large photo

The Challenger of Record for the 34th America's Cup, Mascalzone Latino has just announced that they will not compete in the 34th America's Cup. No announcement has yet been made by the America's Cup organisers as to what will happen next, in this unprecedented move, which had been tipped for some time. The team headed by Italian shipping magnate Vincenzo Onorato cites an inability to raise sufficient sponsorship as the reason behind the withdrawal. The team was also one of those believed to have missed the posting of the first performance bond on 30 April 2011. There ...

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by Richard Gladwell