America's Cup champion BMW Oracle Racing says German automaker BMW is ending its sponsorship at the end of the year by mutual agreement.

BMW has been part of the syndicate since 2002, contributing in the areas of structural engineering and lightweight, composite construction.

BMW Oracle Racing swept Alinghi of Switzerland in two races in February to win the America's Cup, the oldest trophy in international sports. Its radical trimaran design was the fastest boat in the history of the America's Cup.

BMW Oracle Racing is owned by Larry Ellison, CEO of software maker Oracle Corp.

The reason for the bust-up? BMW is said by sources to want to separate from technology partner Oracle over business issues.
The BMW-Oracle team won the America's Cup in February with a convincing 2-0 victory.

"In winning the 33rd America's Cup, we achieved all of our ambitious goals," said Ralf Hussmann, general manager BMW sports marketing. "We will continue to be involved in the sport on a national level."

[Source: BMW | Image: Manuel Queimadelos Alonso/Getty]
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BMW retires from the America's Cup.

At the end of the year BMW will bring to a close its longstanding partnership with ORACLE Racing and thereby end its involvement in the America's Cup. This is by mutual agreement of both partners. Both parties set ambitious goals and achieved the ultimate objective: winning the America's Cup.

BMW has partnered BMW ORACLE Racing since 2002. Technology and skills have transferred freely between the automaker and sailing team, most notably in the fields of structural engineering and high-modulus composite construction. The result was celebrated in the February when the yacht USA 17, the fastest yacht in the history of the America's Cup, won the 33rd Match with a resounding 2:0 victory off Valencia, Spain.

"On the design and engineering front, BMW engineers set new benchmarks in terms of intelligent lightweight design," said Ralf Hussmann, General Manager BMW Sports Marketing and Brand Cooperation. "In winning the 33rd America's Cup, we achieved all of our ambitious goals. We will continue to be involved in the sport on a national level."

"The America's Cup combines a technological challenge with a sporting one and success is measured by the result on the race course," added Russell Coutts CEO of BMW ORACLE Racing. "In that sense, both the team and BMW are proud that our collaboration resulted in victory."

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