Sailing: America's Cup challenge in jeopardy

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The Independent Online
Richard Matthews, the chairman of Britain's challenge for the America's Cup, is due to hear tomorrow the outcome of talks held with the British high street retailing group Kingfisher, who operate Woolworths and B & Q, on the pounds 6m he has estimated will be the cost of posing serious opposition in San Diego in 1995, writes Stuart Alexander. He is unlikely to pick up even the pounds 170,000 performance bond he needs to lodge by 1 January 1994 to stay in the game, but he will probably be offered introductions to other companies who may help him. With time running out Matthews faces the prospect in eight weeks' time of Britain being excluded from the America's Cup for the second time in succession.