China could have a boat in the 2007 America's Cup if an ambitious plan by an investor comes off.
Wang Chaoyong, head of China Equity Investment, has announced that China Team is joining forces with French former America's Cup outfit Le Defi.
The venture's planned budget is $57.6M and will
be led by Le Defi's Xavier de Lesquen and Wang.
De Lesquen said he hoped to join the formal list of 2008 challengers by the deadline of 29 April.
The French sailor added that Swiss holders Alinghi's success in building a team from scratch with the help of a foreign crew had inspired their bid.
"That's exactly what we want to do through the creation of this new association with China with an existing team," he said.
The bid will be based in Qingdao, the site for the sailing events at the 2008 Beijing Olympics.
China Team has its sights set beyond the 2007 Cup by aiming to train a small pool of emerging Chinese sports sailors and harness local engineering and design competence.
"The most important thing is to be in there," Wang said.
"We would like to see a good result, but we want to build a good platform and play up Chinese talents."
Eight teams have so far formally lodged challenges against the holders Alinghi for the 2007 Cup, which is due to take place in Valencia, Spain.
- NEWSTALK ZB
