THE BILLBOARD BOAT

It has been said that racing sailboats is like standing in a cold
shower and tearing up $100 bills. In America's Cup racing, just
increase the denominations.
So the Eagle Syndicate of Newport Harbor, Calif., one of six U.S.
outfits vying to challenge Australia this fall in Fremantle, has come
up with a novel method of raising cash. It plans to sell advertising
space on its boat. ''But that's against International Rule 26,''
harrumph the traditionalists. Well, not exactly. Rule 26 bans
advertising while the boat is racing. The syndicate's marketing crew
plans to sell $1 million worth of space on the keel; the ads will be
submerged during competition and revealed each evening when the boat
is hoisted out of the water for cleaning. Bill Crispin, the
syndicate's project manager, says he has some ''serious prospects''
for his scheme. And why not, since Australia II's winged keel, which
is credited for spiriting the Cup away in 1983, has made the bottom
of the boat the focus of America's Cup attention?

Photo(s):

SAM Q. WEISSMAN NO CAPTION