Luna Rossa Prada Pirelli team owner Patrizio Bertelli. He formed the Ineos Team UK team specifically to compete in the 2021 America's Cup, investing $215 million to do so. He has been involved with the America's Cup since 1997, when he established a Prada team to compete in the Auckland event in 2000. An MBIE spokesperson said the border exemption category was because the America's Cup was a "Government-approved event". Prada chief executive Patrizio Bertelli at the helm of a past Luna Rossa Prada Pirelli yacht.

Source: New Zealand Herald October 10, 2020 16:05 UTC