For the first time, there would be three Italian Challengers for the 32nd edition of the Americas Cup Races.

The Mascalzone Latino syndicate has now confirmed that it has all the qualifications to enter the races, with a budget that is superior to 60 million Euros.

This has been financed through the syndicate as well as its associated companies and three banks: the Banca di Roma, the Banco di Sicilia and the Bipop Carire group.

The agreement is expected to be announced next week. Meanwhile, the Mascalzone Latino will participate in the first regattas of the Americas Cup that will take place in Valencia in June.

The syndicate has currently offered a million dollars to buy the two craft that belonged to the Stars and Stripes syndicate of Dennis Conner of the United States - the USA-66 and USA-77 that are currently being stored in New Zealand.