What about the Sailing Anarchy Challenger?
I though they where quite serious in competing in the end.
They certainly have the network and media outlet to give sponsors a good ROI.
The reason for them not being allowed to enter is that the SA-AC Forum had not been "friendly to Alinghi over the past six years".
Unfortunatly the AC seems to be reduced to a poorly written soap opera.
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SA-AC Forum)