French Sports Minister Chantal Jouanno has confirmed the French Government's support for the three declared French Teams, which are vying to perform in the America's Cup Yachting race in San Francisco, 2013.
The Government are allowing the official use of the French Flag but have emphasised this is subject to the three teams being able to raise the necessary finances. Entering the race is not cheap and is estimated at a minimum of $50Million.
On 1st April, the organisers of the America's Cup confirmed that 15 teams had declared an interest in competing in the race.
The qualification event lasts from July 13 to September 1, 2013. The winner goes on to compete against the American Yacht in an event from September 7th to 22nd.
Challengers are now required to pay a $200,000 bond by the end of April, to retain their involvement in the race.
French Flag OK'd by French Government for America's Cup