America's Cup Sponsorship

eBay are describing it as "their most expensive auction ever" and it has already received two bids.

"The Sausalito Challenge" is offering the right to sponsor their 2007 America's Cup bid. Bids opened at $18m and quickly raced up to $18,500,100. It's more than just a name on a sail, though. Sausalito Challenge are offering the whole "reality TV" package.

This is the second time they have offered the sponsorship pakcge on eBay. First time around, with a $30m reserve and no bids, manager John Sweeney described it as "a great success".

The "buy it now" price set by hopeless optimist Sweeney is $35m, but by America's Cup standards this is still cheap. Larry Ellison's team spent well over $100m on their failed attempt to win the last race.

The America's Cup is typically hosted by the country of the winning boat. Last time, the winning boat Alinghi came from landlocked Switzerland. After considering an invasion of Italy, the Swiss decided to host the 2007 event in Valencia, Spain.

Auction is here