The chairman of the International 12-Meter Assn. has offered to mediate the current America's Cup yachting dispute in hope of saving the class.
Gianfranco Alberini of Italy, said in San Diego: "If the future of the America's Cup is moving to big boats, the association may remain in the interest of activity for the class. But for sure the interest will substantially decrease and may finish."
Michael Fay, a New Zealand merchant banker, won a court decision last month to challenge the San Diego Yacht Club for the Cup in 1988 in a boat with a 90-foot waterline, the maximum size allowed rather than the conventional 12-meters, which are the minimum.
Alberini and Fay will attend meetings in New York today and Thursday that will address the situation. Alberini will chair a meeting of the 12-meter association today, and Fay will attend a meeting of others interested in sailing the larger, more modern boats Thursday.