A second Italian syndicate is likely to challenge for the America's Cup.
Italian media are reporting that Adelasia of Torres, based in Sardinia, intend to be in Auckland in 2021. They will join fellow Italian syndicate Luna Rossa.
Adelasia of Torres is headed by freight company and super yacht service boss Renato Azara. Duccio Colombi, who has won multiple sailing championships in Europe, will be part of the challenge.
Azara confirmed the intention to challenge while backers were being sought.
He said the boat would be built in Olbia and constructed of carbon.
"The consortium is ready and we are already putting together the sponsors. This is an open consortium, because around the project of Adelasia we hope to bring the whole of Sardinia.
"The revolutionary scope of this project, in fact, lies in the fact that we do not want a shipyard that builds our boat, but that the shipyard becomes a partner of this challenge."
Adelasia of Torres has been racing in monohull regattas in the Mediterranean with varying success.
Azara is described on the syndicate's website as being a sailing visionary and has been responsible for setting up an extensive racing programme.
Luna Rossa are the challenger of record for the America's Cup.
The New York Yacht Club and Ben Ainslie Racing have already indicated they will be part of the Cup, although entries don't open until January 1.
Last month Team New Zealand revealed that the Cup will return to monohulls and work is progressing on a new class rule to be released next March, for 75 foot foiling yachts.
The syndicate says the new yachts, which replace the foiling catamarans used for the last two Cups, will provide exciting racing in the Hauraki Gulf. Modelling had shown the boats could be potentially faster than the catamarans used in San Francisco and Bermuda.
Luna Rossa's participation in the Cup was conditional on the return to monohulls.