Sport: Does K Stand for Killjoy?

A bold challenger may spoil San Diego's America's Cup party

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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