The name most synonymous with the America's Cup is returning after a 15 year absence.
The New York Yacht club has announced it will challenge for the Auld Mug in Auckland in 2021.
It last backed a challenge in 2002-03 with Team Dennis Conner.
New York held the trophy from 1851 to 1983 when Australia II beat Conner's Liberty to end the longest winning streak in sports.
Speaking exclusively to Newstalk ZB and Radio Sport, Dennis Conner said the New York Yacht Club has the money to be very competitive.
"They will be a big budget group similar to Prada and they'll give Prada a good run for the right to win the Prada Cup."
The syndicate which wins the Prada Cup takes on Team New Zealand for the America's Cup.
America's Cup veteran Terry Hutchinson will serve as CEO and skipper.
Hutchinson was Emirates Team New Zealand's tactician in the 2007 America's Cup campaign in Valencia.
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