FILE PHOTO: Sailing - 37th America's Cup - New Zealand v Britain - Barcelona, Spain - October 19, 2024 INEOS Britannia and Emirates Team New Zealand in action during race nine REUTERS/Albert Gea/File Photo
ROME (Reuters) -Italy will host the next edition of the America's Cup in 2027 in Naples, Prime Minister Giorgia Meloni said on Thursday, the first time for the country to host sailing's most prestigious competition.
Defending champions New Zealand, winners of the last three editions, said in March they would no longer seek to host the next competition due to a lack of economic support from the government.
"The choice of Italy makes us proud, because it is a recognition of the very identity of our nation. Without the sea, in fact, we would not be what we are," Meloni said in a statement.
New Zealand retained the title last October in Barcelona, beating Britain to win the 37th America's Cup and record their own fifth triumph overall.
Italian team Luna Rossa Prada Pirelli, backed by Prada CEO Patrizio Bertelli, has been a consistent contender in challenging for the America's Cup. The costs of staging a competitive campaign for the "Auld Mug" have been estimated at more than $100 million.
Last year, the team won the Youth America's Cup, along with the Women's competition raced in smaller AC40 boats, an event which sailors hope will help bridge the experience gap at the male-dominated top end of the sport.
"We look forward to welcoming the America's Cup. Italy will rise to this challenge and show the world once again what it is capable of," Meloni added.
Economy Minister Giancarlo Giorgetti said the competition will take place in Bagnoli, a neighbourhood in western Naples, and it will be a major opportunity to help relaunch an impoverished area in Italy's main southern city.
Earlier this year, a study by the University of Barcelona said the event had a positive economic impact of 1.034 billion euros ($1.16 billion) for the Spanish city.
Naples mayor Gaetano Manfredi said hosting the America's Cup represented a huge win for his city.
"We have worked hard on the dossier in recent months together with the government, winning the competition with other cities and achieving an extraordinary success that will produce an enormous economic impact on the territory," Manfredi said.
($1 = 0.8922 euros)
(Reporting by Angelo Amante, editing by Giulia Segreti and Peter Rutherford)
