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SAN DIEGO (AP) - A northern California group couldn't finalize a sponsorship deal by Friday's entry deadline for the 2007 America's Cup, leaving just one U.S.-based syndicate to compete for the oldest trophy in international sports.
"We came so close, but that doesn't cut it," said John Sweeney, sailing manager for Sausalito Challenge, based just north of San Francisco.
Sausalito Challenge needed to secure a letter of intent from a sponsor by Friday morning. Sweeney was negotiating with an Italian credit card company but couldn't close a deal by the deadline.
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