Alinghi boss Ernesto Bertarelli has confirmed his syndicate will not be challenging for the 2021 America's Cup.
In an interview with Italian newspaper La Stampa, the Swiss magnante said the change back to monohulls was the deciding factor in not challenging.
"Yes, I would have participated,'' he said when asked about entering the event in Auckland.
''Switzerland now also has sailors to do it without problems of nationality rules.
''Changing boats have lost at least two teams, one is Alinghi (the other, the Swedes of Artemis). They would have had six from the beginning. And it would have been easy to go up to eight. I was hoping for a spark of repentance, but nothing, they went on their way.
''Besides, I also want to make the most important pieces of the boat the same for everyone: how do you do it?
''I want to see which judge will say that they are all the same. You lose half a second in turn and immediately start a lawsuit .... I do not want to receive a key piece from the organiser. It's like in Formula 1 all the teams have the same engine.''
He said the current Cup was ''a game for architects and engineers with sailors in the background''.
The new foiling 75ft yachts under design for the current Cup were ''catamarans dressed as monohulls''.
"They will be slower boats than we could have by keeping and developing the catamarans we had seen in the latest edition of Bermuda, probably less governable and safe, because they took away the second rudder.
"Just ask the young sailors what boats they want. As early as 12 years old they would like to get on the flying catamarans like the Moths and then the Nacra 15.
"I really do not understand this: why change boat at every edition of the Cup? In addition, the 'single-brand' will also be more expensive."
The deadline for Cup entries is June 30. There are three confirmed challengers, the New York Yacht Club, Luna Rossa and Ben Ainslie Racing.