Australia's "dream of reclaiming one of the most coveted trophies in world sport is over, with Team Australia withdrawing from the America's Cup," according to Amanda Lulham of the Sydney DAILY TELEGRAPH. The decision was revealed on Saturday "but does not come as a complete surprise to sailing insiders." Australia, which won the America's Cup in '83, has not "been in the Cup fray for more than a decade," although Australian sailors "have major roles on rival teams." America's Cup organizers confirmed they had "received notification from the principals of Hamilton Island Yacht Club of their intention to withdraw Team Australia from the 35th America's Cup." The Australians were "the Challenger of Record for the next Cup to be raced at a time and venue still to be determined." Hamilton Island Owner Bob Oatley, a "Sydney to Hobart veteran" who led Australia's bid to "enter the historic race, said the cost of putting a campaign together had become too much" (DAILY TELEGRAPH, 7/19). In London, Stuart Alexander wrote "another major wobble in the progress towards the next America's Cup" came with the announcement. In "the meantime," the America's Cup Event Authority is "continuing its work to select a host venue for the America's Cup" in '17. The process is "progressing well," with an aim to "announce the final venue in October." ACEA said that the "final two being considered" are San Diego and Bermuda. Team Australia will reportedly "continue to provide the crew for the GAC Pindar challenge for the 2014 Extreme Sailing Series with Nathan Wilmot continuing as skipper for the next regatta in Cardiff next month" (INDEPENDENT, 7/19).
