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Team New Zealand Gets Last Shot at America’s Cup as Costs Surge

Team New Zealand can’t match billionaire Larry Ellison’s budget in the America’s Cup this year so it’s relying on sailing nous for what managing director Grant Dalton sees as a last chance to reclaim the trophy.

As the defending champion, Oracle Corp. Chief Executive Officer Ellison’s sailing syndicate set the rules for the Sept. 7-21 series in San Francisco Bay, opting for the AC72 multihull design, a 72-foot (22 meters) catamaran with a carbon-fiber sail that’s bigger than the wing on a Boeing Co. 747 jet and took four times as long to build as previous boats.