Andy Rice

There’s a universal truth about any fledgling sporting event: the more successful it becomes, the more professional it gets, until it teeters on the edge of pricing itself out of existence.

OK, there are some exceptions to this rule, and you might think that the hugely successful Premiership in English football is one of the most obvious examples but even there many clubs struggle.

The top end of sailing is paid for in the main by privately wealthy individuals. The America’s Cup has never really pretended to be anything other than a plaything for the megawealthy, although