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.
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:
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