Italian fashion house Prada has committed €50 million to sponsor Luna Rossa’s challenge for the America’s Cup. For 2014 they have budgeted up to €25 million, although with no America’s Cup World Series racing and with less than 10 months remaining, it seems unlikely they will spend that much. Annual budgets for the rest of the campaign are capped at €24 million in 2015, €9 million in 2016 and €4.5 million in 2017. Total spending will not exceed €50 million.
Luna Rossa’s campaigns in 2000, 2003 and 2007 were funded by Prada CEO Patrizio Bertelli personally. The 2013 campaign was the first time that the sponsorship came directly from the company.