The Swiss team of Alinghi Red Bull Racing has terminated its America’s Cup campaign.
The decision by the Swiss team follows on the heels of an announcement that Ineos Britannia is withdrawing from the sailing competition.
In a statement, Alinghi Red Bull Racing said it had not been able to find agreement with the Defender of the America’s Cup for the future of the event.
The statement said the team would have liked to have seen more accountability, transpancy and new opportunities to deliver a commercially viable event.
“It is with great disappointment that we have begun an orderly wind-down of the Alinghi Red Bull Racing team,” said the team.
“That brands that have formed that team will always be part of the America’s Cup history and the last few years have been an incredible journey.
“We thank every team member, every sponsor and every supporter for their belief, trust, and commitment throughout.”
The next America’s Cup event is scheduled for 2027 with Emirates Team New Zealand the Defender.
The Challenger is Athena Racing led by Sir Ben Ainslie. This team is seeking new sponsorship to continue.
Athens has shown interest as the host venue but this has not been confimed. New Zealand institutions have withdrawn financial support for Auckland as a potential host venue.
Alinghi Red Bull Racing finished fourth in the Louis Cup Challenger Selection Series in the last America’s Cup event.
The team first challenged for the Cup in Valencia in 2007.
