PRADA not to compete in the 33rd America's Cup

[Source: PRADA Group] After ten years and three campaigns, PRADA has decided not to compete in the 33rd America’s Cup, which will be held in Valencia in 2009.

Participation in the next America’s Cup was carefully analyzed, and while significant human and financial resources are already available, it was decided that, after three campaigns, a cycle had come to an end.

Patrizio Bertelli declared: “We challenged in three campaigns of the America’s Cup and we had ten very intense years. It has been an unforgettable experience, both from a sports and human perspective. I want to thank the team, the Telecom Italia Group, Intesa Sanpaolo, the other sponsors and the Yacht Club Italiano who have constantly and enthusiastically supported us. From a corporate standpoint, participating in these three campaigns has allowed us to acquire and develop precious skills, experience, and visibility for our Group. I hope that another Italian team will be able to compete in the next edition and to keep Italy at the top of the game in the America’s Cup.”