The Italian fashion house Prada has confirmed it will back the Luna Rossa team in the next America's Cup, to be sailed at a venue yet to be decided, in foiling catamarans of around 60ft in length. The protocol for the 35th Match is expected to be announcedthis month.
According to website SportsProLive, Prada will be the main sponsor of the team which is owned by Prada chief executive Patrizio Bertelli. Prada has been the major sponsor in previous challenges, most recently last year's 34th Cup in San Francisco. Prada logos will be visible on the hull, boom, drifts and sails of the team's new boat.
Prada's spending will be capped to a maximum of €25 million in the period until January 2015, €24 million in 2015, €9 million in 2016 and €4.5 million until January 2018. Although that total adds up to €62.5 million, Prada said its spend will not exceed €50 million.
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Southerly is a 76-year-old 34-footer designed by Charlie Peel.