2) Italy. Skippered by Paul Cayard of San Francisco, II Moro di Venezia has found a bottomless pool of money in billionaire Raul Gardini, but with a $40 million budget, the syndicate will need it. Boat speed is a question mark.
3) Japan. Nippon America's Cup, a first-time challenge, has all the experience money can buy in New Zealand helmsman Chris Dickson and six other Kiwis. Dickson-san is considered the world's finest match-racing skipper. Newspaper ads for crew members, which declared, "No experience necessary," may have produced some takers, but sailors' falling off the boat has been a recent problem.
4) France. Experience and speed potential in abundance, but early cash problems forced the syndicate to sell its first boat to Beach Boys USA.
5) Japan (Bengal Bay).
6) Australia (the Royal Sydney Squadron Yacht).
7) Australia (Darling Harbor Yacht Club).