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Old 10-29-2008, 08:44 AM
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Default America?s Cup Budget Cuts

America?s Cup teams will cut their budgets by up to 80 percent under plans for sailing?s richest event in 2010 as financial turmoil makes it harder to find sponsors, the Alinghi team owner Ernesto Bertarelli said. Under plans to be discussed by about a dozen prospective teams, syndicates will be allowed a budget between $12.5 million to $25 million, Bertarelli said.

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