British 'bitterly disappointed' at withdrawal from America's Cup

Britain is pulling out of one of the pinnacle events in world yacht racing, the America's Cup.

A shortage of both cash and time have persuaded the head of Team Origin, Sir Keith Mills, to abandon plans to challenge the current holder, the San Francisco-based BMW-Oracle, in 2013.

Mills, who is also deputy chairman of the London Olympics organising group and a director of Tottenham Hotspur, said: "The proposed fixed wing catamaran, the timetable, rules and costs, [mean] that the 34th America's Cup is neither viable commercially nor an attractive sporting contest for Team Origin. After three years of waiting in the wings, I am bitterly disappointed that we will not be competing. The format and timetable decided by the defender is simply not viable."

The decision means that Olympic gold medallists, skipper Ben Ainslie and tacticians Iain Percy and Andrew Simpson, will now have to consider concentrating on their London 2012 campaigns. It will also mean an abrupt change of scene for the recently recruited Australian chief executive, Grant Simmer.

It is not known whether it will also mean a complete disbanding of Team Origin or whether it will continue to compete in other events like the world match-racing circuit. It is unlikely, though, that Origin will now attend the final Louis Vuitton Trophy regatta in Dubai next month.

It is believed that Mills and other partners have already spent upwards of £25m, but Simmer recently said that he thought the budget needed to win was well in excess of £100m. Apart from the Italian challenger of record, Vincenzo Onorato's Mascalzone Latino, the Swedish Artemis team and Team New Zealand, it is thought that many other potential challengers have been put off by the costs involved.

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
  • Get to the point
Latest stories from i100
Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat
Saudi Arabia's airstrikes in Yemen are fuelling the Gulf's fire

Saudi airstrikes are fuelling the Gulf's fire

Arab intervention in Yemen risks entrenching Sunni-Shia divide and handing a victory to Isis, says Patrick Cockburn
Zayn Malik's departure from One Direction shows the perils of fame in the age of social media

The only direction Zayn could go

We wince at the anguish of One Direction's fans, but Malik's departure shows the perils of fame in the age of social media
Young Magician of the Year 2015: Meet the schoolgirl from Newcastle who has her heart set on being the competition's first female winner

Spells like teen spirit

A 16-year-old from Newcastle has set her heart on being the first female to win Young Magician of the Year. Jonathan Owen meets her
Jonathan Anderson: If fashion is a cycle, this young man knows just how to ride it

If fashion is a cycle, this young man knows just how to ride it

British designer Jonathan Anderson is putting his stamp on venerable house Loewe
Number plates scheme could provide a licence to offend in the land of the free

Licence to offend in the land of the free

Cash-strapped states have hit on a way of making money out of drivers that may be in collision with the First Amendment, says Rupert Cornwell
From farm to fork: Meet the Cornish fishermen, vegetable-growers and butchers causing a stir in London's top restaurants

From farm to fork in Cornwall

One man is bringing together Cornwall's most accomplished growers, fishermen and butchers with London's best chefs to put the finest, freshest produce on the plates of some of the country’s best restaurants
Robert Parker interview: The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes

Robert Parker interview

The world's top wine critic on tasting 10,000 bottles a year, absurd drinking notes and New World wannabes
Don't believe the stereotype - or should you?

Don't believe the stereotype - or should you?

We exaggerate regional traits and turn them into jokes - and those on the receiving end are in on it too, says DJ Taylor