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
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

Lionel, Patti, Burt and The Who rock Glasto

Lionel, Patti, Burt and The Who rock Glasto

This was the year of 24-carat Golden Oldies
Paris Fashion Week

Paris Fashion Week

Thom Browne's scarecrows offer a rare beacon in commercial offerings
A year of the caliphate:

Isis, a year of the caliphate

Who can defeat the so-called 'Islamic State' – and how?
Marks and Spencer: Can a new team of designers put the spark back into the high-street brand?

Marks and Spencer

Can a new team of designers put the spark back into the high-street brand?
'We haven't invaded France': Italy's Prime Minister 'reclaims' Europe's highest peak

'We haven't invaded France'

Italy's Prime Minister 'reclaims' Europe's highest peak
Isis in Kobani: Why we ignore the worst of the massacres

Why do we ignore the worst of the massacres?

The West’s determination not to offend its Sunni allies helps Isis and puts us all at risk, says Patrick Cockburn
7/7 bombings 10 years on: Four emergency workers who saved lives recall the shocking day that 52 people were killed

Remembering 7/7 ten years on

Four emergency workers recall their memories of that day – and reveal how it's affected them ever since
Humans: Are the scientists developing robots in danger of replicating the hit Channel 4 drama?

They’re here to help

We want robots to do our drudge work, and to look enough like us for comfort. But are the scientists developing artificial intelligence in danger of replicating the TV drama Humans?
Time to lay these myths about the Deep South to rest

Time to lay these myths about the Deep South to rest

'Heritage' is a loaded word in the Dixie, but the Charleston killings show how dangerous it is to cling to a deadly past, says Rupert Cornwell
What exactly does 'one' mean? Court of Appeal passes judgement on thorny mathematical issue

What exactly does 'one' mean?

Court of Appeal passes judgement on thorny mathematical issue
E L James's book Grey is a reminder of how the phenomenon of the best-seller works

Grey is a reminder of how the phenomenon of the best-seller works

It's hard to understand why so many are buying it – but then best-selling was ever an inexact science, says DJ Taylor
Behind the scenes of the world's most experimental science labs

World's most experimental science labs

The photographer Daniel Stier has spent four years gaining access to some of the world's most curious scientific experiments
It's the stroke of champions - so why is the single-handed backhand on the way out?

Single-handed backhand: on the way out?

If today's young guns wish to elevate themselves to the heights of Sampras, Graf and Federer, it's time to fire up the most thrilling shot in tennis
HMS Saracen: Meeting the last survivor of a submarine found 72 years after it was scuttled

HMS Saracen

Meeting the last survivor of a submarine found 72 years after it was scuttled
7/7 bombings 10 years on: Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'

7/7 bombings 10 years on

Martine Wright lost both legs in the attack – she explains how her experience since shows 'anything is possible'