New America's Cup challenger OzBoys launched

Former Le Defi Areva tactician Sebastien Destremau is part of a new Australian America's Cup challenge launched yesterday.

OzBoys Challenge is based primarily on the youth of Australia and has been created with the founding rule that 60 per cent of the team must have been born in or after 1983 - when Australia II defeated Liberty 4-3 to win the America's Cup.

Founding partners Saatchi & Saatchi, Seek Communications and Sumo have established the OzBoys Challenge, which has a modest budget of A$58 million ($67 million).

"We are currently in discussions with numerous companies interested in the philosophy and benefits of this project," Destremau said.