A press report on CNN.com reports that Wang Chaoyong - chief executive of a Beijing-based investment company - has announced a pioneering 32 million euro ($42m) bid to challenge for the America’s Cup.

Apparently China Team, as it will be known, is joining forces with Le Defi to hopefully embark on a challenge for the 2007 event in Valencia.

Xavier de Lesquen, who led Le Defi’s unsuccessful challenge in the last two ACC events, will be the co-director with Wang, and the challenge will be based at Qingdao - the site for the sailing events at the 2008 Beijing Olympics.

China embarks on ACC campaign

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This entry was posted on Monday, March 14th, 2005 at 2:17 pm and is filed under China Team. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.