On May 12, 2011, Vincenzo Onorato announced that he was withdrawing Mascalzone Latino from the 34th America's Cup, citing challenges in agreeing with their sponsors on a budget sufficient to fund a competitive team.
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In fact, it was the emphatic victory as Mascalzone Latino was the first ever team to win back to back Farr 40 Worlds that led to the International Sailing Federation shortlisted him for the ISAF World Sailor of the Year.
Headed by shipping magnate Vincenzo Onorato, Mascalzone Latino featured an all-Italian crew.