When Skipper Dennis Conner brought home that yachtsman's grail, the America's Cup, from Australia in February, his backers in the San Diego-based Sail America syndicate seemed to have landed a cargo of gold. The cachet of a home- waters defense in 1991 figured to pump $1.2 billion into San Diego.
But hold on a mo', mates. A shrewdly unsettling tack by a New Zealand banker, Michael Fay, aims to sink San Diego's big party. When Fay sent his unconventional fiberglass New Zealand into the elimination series in the last go-around, Conner tweaked the Kiwis, intimating they "wanted to cheat" their way...
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