Our Italian isn’t great and neither is Google Translate’s, but here’s our best attempt at translating Vincenzo Onorato’s open letter explaining why Mascalzone has backed out of the Cup.
Dear Friends and Supporters,
It is with profound sadness that I announce the retirement of the Mascalzone Latino America’s Cup. Since the beginning of our investiture as Challenger of Record, I worked on the project to host the Cup in our country.
Larry really loves Italy and was enthusiastic about the idea. The Cup in Italy was the largest worldwide promotion for our beautiful coastline. There were meetings at the highest level that seemed to believe the dream, and then things went differently.
As the Challenger of Record, we worked with humility alongside Oracle Racing, and I am satisfied with the outcome: a new pair of spectacular catamarans, which will launch a new generation of sailors on the international scene.
We discussed at length with Russell the most difficult challenges that the next Cup will face: a depressed economy…great difficulties in finding sponsors. This is the only true, real enemy of the next Cup. Thus was born the idea of class AC45, a concrete way to bring several teams to the event at the least cost in the delicate phase of the start-up.
As for us, I must thank the two sponsors of Italians who have placed their trust. We are unable to reach a budget that allows us to be competitive…I thank the friends of the Nautical Club of Rome. I am sure that together we will have exciting new adventures.
Fair winds to all.