Conner's yacht sinks off Long Beach

SAN DIEGO - The high-tech, $5 million racing sloop went down in about 55 feet of water a mile off the coast of Long Beach. <br> <br> But yachtsman Dennis Conner insists there is ``no question&#39;&#39; the boat can be repaired in time for the America&#39;s Cup trials, which begin Oct. 1 off Auckland, New Zealand. <br> <br> ``We&#39;ll be sailing again before the trials and everything will be fine,&#39;&#39; he said Tuesday. ``We&#39;re extremely fortunate.&#39;&#39; <br> <br> All 15 crew members aboard the Stars & Stripes were rescued after it sank just after 1:30 p.m. when the rudder shaft broke and tore a hole in the boat&#39;s carbon-fiber hull. <br> <br> The 59-year-old Conner, perhaps the world&#39;s best known sailor, was not on board. <br> <br> The 80-foot boat was raised about six hours later and towed by barge to Conner&#39;s compound on Terminal Island. <br> <br> ``The good news is no one was hurt,&#39;&#39; he said. ``The crew hardly got wet.&#39;&#39; <br> <br> The crew, which had been training since February, will miss only two preparation days, Conner said. <br> <br> Although the boat went down in fewer than five minutes, Conner said the crew had time to take down the mainsail and jib before jumping on nearby tenders. <br> <br> All that was visible before the vessel was raised was about 60 feet of its 110-foot carbon-fiber mast, which was sticking straight out of the water. <br> <br> Stars & Stripes, sail number USA-77, had completed a morning testing sail with its stablemate, USA-66, also named Stars & Stripes. It was about to pick up sponsors for an afternoon sail when it sank. <br> <br> Conner has won the 151-year-old America&#39;s Cup four times, though not since 1988. He&#39;s also lost it twice. He now spends most of his time raising money for the race, however, not sailing. <br> <br> USA-77 was christened in Long Beach, joining USA-66, which was launched in February. This is the first time since the 1986-87 America&#39;s Cup that Conner has been able to afford two new boats. One will be shipped to New Zealand next week. <br> <br> America&#39;s Cup contenders can race only one yacht at a time, but often keep a backup boat ready, just in case. <br> <br> The only other America&#39;s Cup yacht to sink was oneAustralia, which cracked in two and went down off San Diego during a challenger series race in 1995. The crew was rescued but the boat was lost. <br> <br> Three weeks later, Conner&#39;s yacht took on water from keel damage and had to be towed back to San Diego aided by pumps and flotation buoys. <br> <br> In 1999, the hull of one of Young America&#39;s two boats buckled in a race off Auckland and nearly sank. <br> <br> America&#39;s Cup yachts weigh about 25 tons, with the bulk of the weight in the 20-ton lead keel bulb that hangs about 14 feet beneath the water line, giving them stability when sailing upwind. <br> <br> The America&#39;s Cup match will begin in February between two-time winner Team New Zealand and the winner of the Louis Vuitton Cup for challengers.