German businessman Michael ILLBRUCK announced today that his Pinta Racing syndicate has stopped all Americas Cup activities for a second time.
The withdrawal followed a recent decision by the German car maker Audi to withdraw its support for the project, said Michael Illbruck.
With the economic downturn, it is not surprising that Germans corporations are cutting down expenditures, including sponsorship expenses, as much as possible.
The German project for the America's Cup was cancelled in 2002, also for a lack of sponsorship. While Challenges are emerging in Spain and Australia, Germany's first-ever America's Cup campaign appears to be in the dark and now Michael Illbruck's effort is dead in the water.
"We are giving ourselves until this spring, likely May, to make it happen"
, John KOSTECKI had said in June. "If not, we're going to stop raising money"
He has joined Oracle BMW Racing's afterguard in August, taking along with him his friend Ross HALCROW, trimmer and sail program manager on board illbruck.
In September 2002, Glenn BOURKE, former illbruck Challenge's Chief Executive Officer, has accepted the position as Chief Executive of the Volvo Ocean Race which will start from Europe in 2005.
In a recent interview with Laurie Fullerton, Russell COUTTS said that Dane Michael RICHELSEN and Spanish Juan VILA had joined Alinghi. They were were respectively head designer and navigator for the German Challenge.