On Sunday, American Magic suffered a dramatic capsize in their Prada Cup round clash race against Luna Rossa.
With the boat on its side, skipper Terry Hutchinson said he wasn't sure Patriot would survive the incident.
Luckily, and thanks to help from rival teams, the AC75 was rescued and towed back to base.
The incident sparked memories of the 1995 sinking of One Australia, the only entry to sink during an America's Cup regatta.
John Bertrand was the skipper of One Australia in their Louis Vuitton semifinal match-up against Team New Zealand when, in choppy waters, the boat broke up and sank off San Diego.
Iain Murray was also on board that day and is now the regatta director of the 36th America's Cup.
Peter Montgomery's TV commentary was unforgettable, as were the pictures of the big yacht cracking up the middle and sinking within two minutes. The film went on the internet and became, at that stage, the most-watched event other than the moon landing.
'Yes. We are going to sink'
It led to one of the most famous quotes in Cup history. Rod Davis was helming the boat that day and almost casually remarked to the burly Murray: "Big fella, are we going to sink?'' The equally unflappable Murray said: "Yes. We are going to sink.''
He was right. It was all over in two minutes, the tonnes of lead ballast in the hulls dragging the boat to the bottom of the Pacific.
The sailor who couldn't swim
No one died but the favourite to have done so was crewman Don McCracken who, in spite of being a Volvo round-the-world yachtsman, couldn't swim. "Dog paddle was about his lot,'' said Murray.
McCracken was one of the last off the yacht, thrown off the bow by the force of the sinking - just as well, as he could well have been sucked under in the vortex.
New Zealand's Murray Jones, a five-time Cup winner, was on NZL32 and watched in horror as the yacht cracked and sank in front of them.
"The whole [NZ] boat went quiet. No one said a word,'' said Jones. "We just hoped no one was suffering - we were all concerned someone was hurt.''
"One of the things that has stayed with me was the comradeship,'' said Bertrand. "The Kiwi chase boat picked some of our guys up. They were horrified at what had happened. We are blood brothers out of the water, regardless of the fact that we are mortal enemies on it."
In the end, it came back to safety. Murray - then a competitor - said the organisers had asked the teams whether they wanted to sail: "I guess our egos got ahead of our brains a bit. Of course we wanted to race - but we got a bit ahead of ourselves.''
That day, not only did One Australia sink, other boats were damaged on a day Jones said they should not have raced. The Australians stayed in the regatta, re-building their pace boat. They beat all other challengers except New Zealand, who won the Louis Vuitton Cup and went on to take the America's Cup - for the first time - off Dennis Conner in Stars & Stripes.
'I thought maybe we had lost someone'
"I can still hear the carbon fibre tearing itself apart and the keels ripping off underneath the hull. Like peeling an orange but all carbon fibre," Bertrand told NZME yesterday.
"After getting off the boat, endeavouring the count the crew and at one stage I couldn't get the full 17 we were looking for, 16 plus an observer. That really was a scary moment when I thought maybe we had lost someone. As it turned out everyone was fine.
"Yesterday was much less serious but let's face it, pretty spectacular stuff, that's for sure," he added about American Magic's demise.
"That is the reality of living on the edge," Bertrand said about the sinking in 2013.
"That's what we do in the America's Cup - sail on the edge. It's a bit like Formula One. They're on the edge too. People have crashes, people get killed. It doesn't stop F1 and it doesn't stop the America's Cup either. If you are not on the edge, you are not competitive."
Heading into the Cup racing?
• Give yourself plenty of time and think about catching a ferry, train or bus to watch the Cup.
• Make sure your AT HOP card is in your pocket. It's the best way to ride.
• Don't forget to scan QR codes with the NZ COVID Tracer app when on public transport and entering the America's Cup Village.
• For more ways to enjoy race day, visit at.govt.nz/americascup.