Paul Rouse: Billionaires are now battling for supremacy on the ocean waves

The America’s Cup is about much more than just sailing. From its inception, it has been a platform for rich men to demonstrate the power of their wealth

Emirates Team New Zealand and Great Britain's Land Rover BAR compete during the 2017 America's Cup. Picture : AP

There is no organised sport in the world where money doesn’t matter. But there is also no sport in the world where money matters quite so much as in sailing.

When a race between two boats can be billed as ‘The Battle of the Billionaires’, you don’t need to be a disciple of Karl Marx to interpret it as being dependent on access to capital.