BMW Oracle Racing loses sponsor

Updated: December 28, 2010, 5:30 PM ET
Associated Press

SAN FRANCISCO -- America's Cup champion BMW Oracle Racing says German automaker BMW is ending its sponsorship at the end of the year, by mutual agreement.

BMW has been part of the syndicate since 2002, contributing in the areas of structural engineering and lightweight, composite construction.

BMW Oracle Racing swept Alinghi of Switzerland in two races in February to win the America's Cup, the oldest trophy in international sports. Its radical trimaran was the fastest boat in the history of the America's Cup.

BMW Oracle Racing is owned by Larry Ellison, CEO of business software maker Oracle Corp.


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