Prada in Line to Sponsor Luna Rossa for 2013 America’s Cup

Italian Fashion label Prada has been in talks to come in as a sponsor of the the Luna Rossa team for the 2013 America’s Cup. 

The amount involved in the sponsorship agreement is Euro 40million ($55m) which is a good starting platform for a development of an AC72 class catamaran required for the 34th America’s Cup. 

If approved, the sponsorship will be paid in installments over a 21 month period. 

They may be a possible conflict of interest between the Patron of Luna Rossa, the jovial Patrizio Bertelli and his role as CEO of Prada. His wife Miuccia Prada Bianci is President of Prada. The decision to accept the invitation to become a sponsor will be made by the Board of Prada SA. 

Luna Rossa have been competing in the Extreme Sailing Series, sailing Extreme 40’s. Patrizio Bertelli initially declared he was not interested in entering his team for their fourth America’s Cup, however clearly changes that have been made to the rules have made the event more attractive. 

It was also announced separately that there will be an America’s Cup World Series Event staged in Naples in April 2012, and a second event is expected to be held there in 2013. The ACWS will also hold an event in a second Italian venue, Venice in May 2012, with a second said to be promised for 2013, giving Italy four events in the ACWS with just one unannounced entry in the regatta. 

Luna Rossa contested the 2000, 2003 and 2007 Louis Vuitton Cups. Their best performance was in 2000, when they became the Challenger in Team New Zealand’s first Defence, in Auckland. 

Currently there are eight teams entered in the 34th America’s Cup. Only four or five are expected to be able to generate sufficient sponsorship to commit to an AC72 program and be on the starting line for the start of the Louis Vuitton Cup in July 2013 in San Francisco. The addition of Luna Rossa with a Prada sponsorship would tick both columns of the ACWS and America’s Cup ledger.