An underwater picture shows the Oracle Team USA AC72 catamaran train in San Francisco Bay, California August 7, 2013. The Oracle Team will defend its America's Cup trophy on the beginning of September at San Francisco Bay. REUTERS/Peter Andrews
SAN FRANCISCO (Reuters) - Oracle Team USA admitted it had violated the official rules on yacht modifications and would withdraw retroactively from the last four AC World Series regattas, which are part of the lead-up to the final America's Cup race.
Russell Coutts, chief executive for the team owned by software billionaire Larry Ellison, said in a statement late on Thursday that unauthorized modifications were made a year ago to its 45-foot catamarans without the knowledge of management. The team will return its prizes and trophies, he said.
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