Hamilton Island Yacht Club/Team Australia withdraw their challenge for the America's Cup

From the following entry on Americascup.com

http://www.americascup.com/en/news/102_Update-on-teams-for-the-35th-Americas-Cup.html

The America’s Cup organizers have received notification from the principals of Hamilton Island Yacht Club of their intention to withdraw Team Australia from the 35th America’s Cup.

“We are very disappointed to be receiving this news,” said Russell Coutts, Director of the America’s Cup Event Authority (ACEA). “We were excited to have Australia as a challenger and we were also looking forward to the prospect of holding America’s Cup World Series events in Australia.

“But our focus going forward is with the teams that have already submitted challenges and the teams that have told us of their intent to do so before the entry deadline on August 8th.

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