Riding the wave of success generated by Britain's Olympic sailors, financial backing is almost certain for a second consecutive British crack at the America's Cup in 2007.
As teams gather in Valencia for next month's second European warm-up regatta, and an airlift of Emirates Team New Zealand's second boat allows double
gold medallist Ben Ainslie to join the crew, the stage is being set for confirmation of a multimillion-pound sponsorship for GBR Challenge and the sale by owner Peter Harrison of a stake in the team he backed with £22 million ($59 million) in Auckland in 2002-03.
Final details have still to be agreed, and a delay will allow the announcement in Doha, Qatar, of steps by cash-strapped Tracy Edwards to secure a round-the-world race in giant multihulls, scheduled to start next February.
The same sponsor, believed to be HSBC, will finance that race as part of a plan to become involved in the development of leisure facilities in the sheikhdom. The deal centres round supporting a minimum of three entries.
Edwards claims to have sold her catamaran, the former Club Med, to Qatari interests to settle her debts.
The other two boats are thought to be Olivier de Kersauson's trimaran Geronimo and Tony Bullimore's vintage catamaran, which he bought from Edwards.
- INDEPENDENT
