For the first time in 149 years no American yacht will contest the Americas Cup after Italy's Prada Challenge beat AmericaOne yesterday in the deciding race of the challengers' elimination series final.
Prada beat AmericaOne by 49 seconds in the ninth and last race of the finals to win the series 5-4.
Prada will now attempt to become the first European boat to win the Americas Cup when it challenges holders New Zealand from February 19th.
That series, off New Zealand, will mark the first time an Americas Cup has been sailed without an American boat since the regatta was first contested between the yachts America and Britain's Aurora off Cowes in England in 1851.
"I'm conscious of that fact that we were America's last hope," Paul Cayard told reporters. "We definitely did our best."
Prada skipper Francesco de Angelis and tactician Torben Grael sailed an immaculate race to lead AmericaOne on each of the six legs of the 18.5-nautical mile course in the Hauraki Gulf.
The Prada crew leaped for joy as their sleek, 24-metre greyhulled yacht crossed the finish line under spinnaker.
Fashion mogul Patrizio Bertelli, who has poured between $50 million and $100 million into Prada's challenge, clambered aboard from a support vessel to hug de Angelis and spray champagne over the crew as spectators on a fleet of some 1,400 yachts looked on.
"I felt a lot of emotion when we got to the finish line but I'm thinking of what we are going to do in the next few days already," Bertelli told reporters.
AmericaOne had been within one race of challenging for the cup after fighting back from 1-3 down. A crucial mistake by Grael handed Cayard's boat race seven on Friday for a 4-3 lead.
"We went through some days when things didn't go our way," de Angelis said. "We still had to win two races and that's what we did."
Prada ended American attempts to win back the cup New Zealand took from Young America off San Diego in 1995. AmericaOne was one of five US syndicates to contest the challengers' series, including one led by veteran campaigner Dennis Conner on Stars & Stripes.
"Things change, life goes on," de Angelis said of the end of the US era in the America's Cup.
Louis Vuitton Cup (the eliminator series for the Americas Cup challenge): Race Nine: Prada Challenge (Italy) beat AmericaOne (US) by 49 seconds. Standings: (each race worth 1 point): Prada Challenge (Italy) Francesco de Angelis 5 pts; AmericaOne (US) Paul Cayard 4.