The Virgin Islands America's Cup Challenge is merging with "the most experienced Cup racer in the world," Dennis Conner.
Michael Bornn, president of the V.I. Challenge said this "will ensure the V.I. Challenge will be present at New Zealand for the Cup."
The combined effort will be called Team Dennis Conner.
Peter Holmberg, co-founder with Bornn of the V.I. Challenge, said the Virgin Islands raised more money per capita than any other challenge — but still not enough to move forward with its own independent effort.
"The man on the street in the V.I. will see no visible change except maybe an additional logo on team gear," Holmberg said.
In a game where sponsorship money is as important as talent, Bornn said, "This will combine the experience of Team Dennis Conner with the talent of Peter Holmberg and the marketing appeal of the V.I. Challenge."
The David Pedrick Design team, retained by V.I. Challenge, is another asset the V.I. Challenge brings to the mix, he said.
Bornn said the commitments made to V.I. Challenge sponsors will be honored by the new team.
If the new team wins in New Zealand, the Virgin Islands will have the chance to host the America's Cup, according to Bornn.
Peter Holmberg will be part of Team Dennis Conner by contract, with other V.I. team members given the right to try out for the new effort.
Team Dennis Connor, ranked third in U.S. America's Cup chances by Gary Jobson, editor of Sailing World magazine, in its November 1998 issue, will combine its money-raising ability with sixth-ranked V.I. Challenge's attractive venue and winning design team.