Audi withdraws America's Cup sponsorship

"I will not give up on the German flag," triple Olympic champion Schuemann told die Welt on Sunday as the search begins for a new main sponsor.

Audi have withdrawn their financial backing due to the world economic crisis, leaving the sailing team's dreams of America's Cup success in tatters.

Team Germany challenged for the Cup in 2007 and Schuemann, who was part of the successful Cup campaigns with Alinghi in both 2003 and 2007, joined shortly after the Swiss team beat Team New Zealand in Valencia in July 2007.

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