First comes a furious duel for big bucks
Silicon Valley billionaire Larry Ellison’s syndicate is cash flush, with a preferred position on the starting line. His local rival, John Sweeney, is holding a sailor’s tin cup, hoping to give the database tycoon a race for his megabucks.
BMW Oracle Racing, funded by Ellison and German automaker BMW, is prepared to ante up nearly $200 million to win the 32nd America’s Cup, to be held in Valencia, Spain, in the summer of 2007. The team has already spent a fortune to secure some of the world’s finest pro sailors.
Sweeney, a former grinder for Ellison’s team in the 2003 America’s Cup trials, hopes to raise a shoestring budget of $65 million for his Sausalito Challenge, a wild card to win the oldest trophy in sport. The die-hard Tiburon sailor held an auction on EBay last year to lure potential sponsors. His team is the first to offer a full-fledged crew slot on its racing boat to a celebrity — who brings lots of cash.
First comes a furious duel for big bucks But Tiburon sailor thinks he can succeed with less money
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