Feb 08, 2010 at 08:38 PM
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America’s Cup Sinks as Sponsors Flee Billionaire Feud

Billionaires Larry Ellison and Ernesto Bertarelli have turned an America’s Cup boom into bust, according to Business Week:

A 30-month wrangle over rules canceled a 19-team qualifying event, scared off sponsors like Banco Santander SA, UBS AG and Nestle SA and shrank the organizing budget to 8 million euros ($11.1 million) from a record 230 million euros in 2007, organizers said.