SAN DIEGO -- A Dutch syndicate withdrew its challenge for the America's Cup on Monday while an American group says it will continue on after restructuring its management team and continuing to seek corporate sponsorship.
DutchSail, headed by former America's Cup champion Simeon Tienpont, said it couldn't secure the sponsorships needed to be an effective challenger.
DutchSail joins Malta Altus Challenge in dropping out of the 36th America's Cup, scheduled for Auckland, New Zealand, in 2021.
That leaves only four challengers, including Stars & Stripes Team USA, which confirmed it is continuing on. The team will have to restart construction on its boat, which was halted earlier this year, and complete payment of a $1 million late entry due in installments by Oct. 1.
DutchSail, Malta Altus Challenge and Stars & Stripes Team USA were all late challengers.
While Stars & Stripes Team USA has been sidelined, the other three challengers, New York Yacht Club's American Magic, Sir Ben Ainslie's INEOS Team UK and Italy's Luna Rossa Challenge, have all launched test boats.
Stars & Stripes Team USA is backed by the Long Beach Yacht Club. The LBYC had to terminate the agreement it had with two Stars & Stripes executives who left, and sign a new agreement with the two who remained, Mike Buckley and Taylor Canfield.
Part of that process involved sorting out payments to defender Emirates Team New Zealand for a design package for the new AC75 foiling monohull.
The winner of the challenger series will face Team New Zealand for the oldest trophy in international sports.
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