On 14 June 2004 in Auckland, Emirates Airline President Tim Clark and Team New Zealand announced the launch of Emirates Team New Zealand, which will be dedicated to mounting a challenge for the America’s Cup in 2007, the world’s oldest sports trophy and premier sailing event.
Team New Zealand held the Cup for eight years until 2003. Its bid to regain the trophy from its current holder - Team Alinghi of Geneva, Switzerland - will culminate in 2007 in a series of regattas off the Mediterranean city of Valencia, Spain.