Alinghi boss Ernesto Bertarelli has confirmed his syndicate will not be challenging for the 2021 America's Cup.
In an interview with Italian newspaper La Stampa, the Swiss magnante said the change back to monohulls was the deciding factor in not challenging.
"Yes, I would have participated,'' he said when asked about entering the event in Auckland.
''Switzerland now also has sailors to do it without problems of nationality rules.
''Changing boats have lost at least two teams, one is Alinghi (the other, the Swedes of Artemis). They would have had six from the beginning. And it would have been easy to go up to eight. I was hoping for a spark of repentance, but nothing, they went on their way.